Telstra, Australia’s leading telecommunications and media company has decided to sells its Singapore and Thailand Pacnet assets for $4.4 million. The assets will be taken over by a company called DeClout and an acquisition agreement has already been signed to that effect. The announcement was made on November 7, 2015 and it was stated that DeClout subsidiary Acclivis will integrate Pacnet Internet Singapore’s ISP assets for $2.3 million. The new assets will be merged with Acclivis’s already running ISP business named OSINET. Acclivis will also acquire Pacnet Internet Thailand for $2.1 million and this will enable it to operate in Thailand and grow its cloud business in the country.
The two acquisitions are expected to increase DeClout’s customer base by over 3000 and also increase its revenue significantly. ISP has been a very strong growth area for Acclivis ever since it started operating and this recent development is surely going to provide a further big boost to the company’s growth in that department. Telstra bought Pacnet in December last 2014 for $697 million and since then it has worked to increase the company’s reach and profitability. The company believes that the decision to sell Pacnet is consistent with its strategy for Global Enterprise and Services business. The company wants to focus on providing services to large companies and therefore has agreed to sell its Pacnet assets to a company that is focused on the small businesses.