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|MediaRing acquires NetPlus, a communications service provider, for S$9.5m cash
• This is the second investment in an ISP following a strategic stake in Cambodia
• MR will bundle and cross-sell voice and data services to corporate customers
SINGAPORE – 12 July 2006 – Mainboard-listed MediaRing Ltd (“MediaRing” or the “Group”), a leading pure-play VoIP telephony service provider in Asia, is making its second acquisition of an Internet service provider (ISP) following its first investment in Cambodia in May last year. This move demonstrates MediaRing’s continued commi tment to pursue organic and inorganic business growth through strategic acquisitions or joint ventures with strong regional players in key markets across Asia.
The Group announced today that it has entered into a Sales and Purchase agreement to acquire all the issued shares in NetPlus Communications Pte Ltd (“NetPlus”), a Singapore-based ISP, for S$9.5 million in cash.
NetPlus is a communications service provider offering Internet access and IT consultancy services to corporate customers in Singapore. Its customers include leading local and global corporations such as NTUC Income, ComfortDelgro Engineering, Hotel Phoenix, Diners Club Singapore, GP Batteries, Isetan Singapore and Toshiba .
Said Mr Khaw Kheng Joo, CEO of MediaRing on the strategic thrust of the acquisition, “Voice and data are fast converging. With the acquisition of NetPlus, MediaRing can now bundle and cross-sell voice and data services to our corporate customer base in Singapore. We are excited about our investment as we believe we will gain an important competitive edge to expand our Enterprise Solutions business and our brand presence in Asia.” Currently, MediaRing offers Enterprise Solutions, its voice services, to corporate customers in the region. Apart from voice and data solutions, this acquisition will also allow MediaRing to scale up its services portfolio to offer hosted IP PBX, IP VPN and conferencing services to its Enterprise Solutions corporate customers as well.
Added Mr Khaw on other benefits of the acquisition, “On top of acquiring a new know-how, we believe the experienced management team in NetPlus will enhance the Group’s capabilities in delivering “one-stop” data and voice services to corporate customers and bring us one step closer to our goal of becoming a significant regional telecommunication service provider using IP as the delivery platform.”
The acquisition of NetPlus follows on Mediaring’s recent investment in a 40% stake in Cambodia Data Communication Company Ltd which provides whole-sale telecommunications services and holds an ISP license issued by the Ministry of Post and Telecommunications Cambodia (“MPTC”).
DC offers its services under the brand name of AngkorNet, which is the first ISP in Cambodia to offer, tiered and bundled packages of high-speed Internet access and other data applications using new WiMAX (Worldwide Interoperability for Microwave Access) technology. AngkorNet delivers up to 90% WiMAX coverage in Phnom Penh.
Headquartered in Singapore, and with subsidiaries or rep offices in Malaysia, Shanghai, Beijing, Hong Kong, Taiwan, Japan and Silicon Valley (Sunnyvale, CA) USA, MediaRing is the leading VoIP telephony service provider in Asia and enjoys a significant share of the global VoIP market. Through its strong technological capabilities and extensive call termination network, MediaRing brings high-quality voice services to carriers, enterprises, service providers, and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations in more than 240 countries worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives more than 95 per cent of its revenue from outside Singapore.
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