Fiji’s Amalgamated Telecom Holdings (ATH) has completed a full takeover of three ICT businesses via its majority stake in Vodafone Fiji.
CommsUpdate reports that ATH now owns 100% of Papua New Guinea’s Digitec ICT as well as the Singaporean and Australian units of ETech ICT. Prior to the leveraged buyout – funded via a debt financing deal with Bank of South Pacific, PNG - the holding company held a 49% stake in each business.
ATH hailed the three firms’ “strong track record of delivering cutting-edge solutions to a diverse clientele in the Pacific”, and stated that the buyout would allow it to enter new market segments and boost its revenue.
“This strategic acquisition aligns with ATH Group’s long term vision of providing 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,” ATH said in a filing on the South Pacific Stock Exchange (SPX).