Amalgamated Telecom Holdings (ATH) has acquired the remaining 49 per cent shares in Digitec ICT Ltd in Papua New Guinea, ETech ICT Pte Ltd in Singapore and ETech ICT Pty Ltd in Australia through its subsidiary Vodafone Fiji Pte Ltd.
The investment has been structured as a 100 per cent leveraged buyout, funded via a structured debt financing from Bank of South Pacific, PNG.
A market announcement released on the South Pacific Stock Exchange (SPX) stated that Digitec ICT and ETech entities brought with it a wealth of experience and technological capabilities in the ICT sector.
“The companies have a strong track record of delivering cutting-edge solutions to a diverse clientele in the Pacific,” the company stated.
It stated that acquisition would enable the ATH Group to leverage those capabilities and tap into new market segments, and drive further growth and market leadership.
“This strategic acquisition aligns with ATH Group’s long term vision of proviing end-to-end telecommunications and ICT solutions that empower businesses, government agencies, institutions, individuals, etc and accelerate economic growth and social development in the Pacific region,” the company stated.
