Axiata Unit To Acquire 65 Per Cent Stake In Suvitech

KUALA LUMPUR, May 15 (Bernama) -- Axiata Group Bhd's wholly-owned unit, Axiata Business Services Sdn Bhd (ABS), has entered into a share sale and purchase agreement to acquire a 65 per cent stake in Suvitech Co Ltd for up to US$11.05 million (RM47.91million). Incorporated in Thailand on May 10, 2002, Suvitech is the owner and operator of a mobile virtual network enabler (MVNE) platform which facilitates the provision of sales/dealer management, products/pricing and provisioning, and billing for consumer, enterprise and Internet-of-Things (IoT) services. In a filing to Bursa Malaysia today, Axiata said the proposed acquisition of Suvitech was both strategic and synergistic for ABS, as Suvitech's platform was a plug-and- play solution for ABS enterprise and IoT business in Thailand. "The proposed acquisition of Suvitech will not have any impact on the issued and paid up share capital of Axiata. "It will also not have any material impact on the earnings, gearing and net assets of the group for the financial year ending Dec 31, 2017," it added. -- BERNAMA