Telstra to sell Pacnet assets in Singapore, Thailand
Australia's Telstra has arranged to sell ISP assets in Singapore and Thailand acquired through the purchase of Pacnet to Singaporean cloud and data center operator DeClout for a combined $4.4 million.
Under the proposed deal, DeClout will pay $2.3 million to acquire Pacnet Internet Singapore's ISP assets and incorporate them into its existing ISP unit OSINET.
DeClout will also pay $2.1 million for 100% of Pacnet Internet Thailand, giving it a foothold into that market via Pacnet's operating license.
The deal still requires regulatory approval and is contingent on the ability to carry over certain supplier contacts, as well as other conditions. Subject to these conditions being met the transaction is expected to be complete by mid-January.
Announcing the proposed transaction, DeClout said the merger is expected to allow OSINET to expand its regional reach throughout Southeast Asia and provide a full suite of end-to-end managed services.
Telstra completed the $697 million acquisition of Pacnet in April as part of its strategy of pursuing growth by looking beyond its domestic operations and towards Asian markets. The acquisition doubled the operator's customer base in Asia.
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