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TeleChoice to form ICT unit with US$14 million acquisition

Anushkar Mohinani | Oct. 13, 2010
TeleChoice is acquiring a 90 per cent stake in S andI Systems to form the Info-Comm Technology Services division and offer integrated ICT solutions.

SINGAPORE, 13 OCTOBER 2010 TeleChoice, regional provider of innovation communications, announced on 11 October 2010 that it proposed acquisition of a 90 per cent stake in information technology solutions provider S & I Systems, for an aggregate consideration of S$18 million (US$14 million).

S & I System's IT and system integration capabilities will match TeleChoice's cloud computing solutions to offer an extensive suite of integrated information and communications technology (ICT) solutions and services.

We intend to group S & I with our existing telecommunications services business unit to form a new unit, Info-Comm Technology Services, to fully exploit the opportunities arising from the convergence of IT and telecoms which has been facilitated by the increasing adoption of cloud computing, said Andrew Loh, president of TeleChoice.

The deal is targeted to be completed by 30 November 2010.

 

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