Hitachi Sunway acquires I-Net Singapore, its third acquisition in 6mths

By Digital News Asia November 6, 2014

Follows 100% stake in Free Net and 30% stake in Powerware Systems in July
Acquisition to bolster its infra and managed services business, company says

HITACHI Sunway Information Systems Sdn Bhd said it has acquired a 100% stake in I-Net Solutions (S) Pte Ltd, which will be consolidated as a subsidiary of Hitachi Sunway and renamed Hitachi Sunway Network Solution Pte Ltd pending authorities’ approval.

Financial terms were not disclosed.

This is the third in a series of acquisitions within the last six months by Hitachi Sunway, the Japanese-Malaysian joint venture (JV) that was formed in April 2013.

The acquisition will bolster Hitachi Sunway’s Infrastructure and Managed Services (IMS) business, which has also benefited from the acquisitions of a 100% stake in Free Net Business Solutions Sdn Bhd and a 30% stake in Powerware Systems Sdn Bhd in July, Hitachi Sunway said in a statement.

Hitachi Sunway acquires I-Net Singapore, its third acquisition in 6mths “IMS is a high-growth sector within ICT that encompasses many elements of specific technical resources, know-how and facilities,” said Hitachi Sunway group chief executive officer and director Cheah Kok Hoong (pic).

“The recent acquisitions reinforce Hitachi Sunway’s corporate direction to be the top leading one-stop IT services and solutions provider in South-East Asia in this area.

“I-Net has deep domain expertise in IT system integration, networking and security, which will augment Hitachi Sunway’s IMS solutions portfolio to offer complete data centre services, IT outsourcing and infrastructure managed services for large IT infrastructure developments and call centre operations,” he added.

Established in Singapore in 2003, I-Net is a regional IT company which provides IT systems integration services, networking and managed services solutions. The company also has a presence in Thailand, Indonesia, Malaysia and China.

“The team at I-Net group is delighted to be a part of the Hitachi Sunway strategy to expand its business footprint in South-East Asia,” said I-Net group executive director Joshua Ong.

“This is a strategic business decision that we believe will benefit our clients, partners and employees,” he added.

Deeper into Singapore

The I-Net acquisition will also expand Hitachi Sunway’s business footprint and IT offerings in Singapore, the latter said in its statement.

“Prior to the acquisition, Hitachi Sunway had only been providing product lifecycle management solutions to customers in Singapore for engineering design and product manufacturing,” said Cheah.

“Tapping on I-Net’s system integration capabilities, Hitachi Sunway can now offer IMS and data centre solutions targeting financial services, large conglomerates and government-linked companies,” he added.

Hitachi Sunway said it expects to surpass its previous targeted business revenue of RM137 million by 75% to RM240 million by fiscal 2015. [RM1 = US$0.31]