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Netpluz Asia acquires assets of two companies from Si2i for S$3m
HOMEGROWN managed services provider Netpluz Asia is investing S$3 million to acquire the business assets of Mediaring Network Services (MRNS) and Mediaring Communications (MRC) from publicly-listed Si2i.
Netpluz Asia has agreed to purchase the commercial assets of the brand. Meanwhile, the retail assets will remain with Si2i (formerly known as Mediaring).
The purchase will be spread out over four phases till mid-2017.
Mediaring, which was established in Singapore in 1994, was listed on the Singapore Exchange in 1999. At its peak in 2000, it had the largest market share worldwide as a one-stop service provider of voice, data and computing services with VoIP technology.
The acquisition will beef up its pool of small-business customers as well as target medium-sized organisations with five to 200 users, Netpluz Asia said.
With the transfer of MRNS and MRC underway, Netpluz Asia aims to inject new systems and technologies and offer services such as cloud computing, IP Private Branch Exchange (IP-PBX) and data analytics to corporate customers. It also plans to enhance its services offered to MRNS and MRC's 2,000 customers. In addition, it will leverage on their ownership of a "significant number" of Internet Protocol Version 4 addresses, which it described as an "extremely valuable asset".
Netpluz Asia is made up of a management team who worked in Mediaring in 2005.
Netpluz Asia also has plans to establish a regional network with offices in Indonesia and Malaysia to support clients in those markets.
With the Mediaring assets and regional growth plans, Netpluz Asia is looking to generate annual revenues of S$10 million in 2017.