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Pacific Internet to buy Thai ISP firm
SINGAPORE, Jan 10 (Reuters) - Pacific Internet Ltd said on Monday it has signed an agreement to buy a ``major'' stake in the holding firm of an Internet Service Provider (ISP) in Thailand.
The acquisition of IT Star Co Ltd was expected to be completed in early March and forms part of PacNet's efforts to increase its subscriber base and diversify its revenue portfolio, PacNet said in a statement.
IT Star is the holding company of the Thai ISP, World Net & Services Co Ltd.
PacNet did not give details of the stake it would buy in IT Star or how much it would pay for that stake.
Bangkok-based World Net's core business is to provide Internet service access. It has presence in Ayudha, Chon Buri and Songkhla, the statement said.
Nasdaq-listed PacNet is one of Singapore's ISPs. SembCorp Industries Ltd is a major shareholder of PacNet.
Pacific Internet to buy Thai ISP firm
SINGAPORE, Jan 10 (Reuters) - Pacific Internet Ltd said on Monday it has signed an agreement to buy a ``major'' stake in the holding firm of an Internet Service Provider (ISP) in Thailand.
The acquisition of IT Star Co Ltd was expected to be completed in early March and forms part of PacNet's efforts to increase its subscriber base and diversify its revenue portfolio, PacNet said in a statement.
IT Star is the holding company of the Thai ISP, World Net & Services Co Ltd.
PacNet did not give details of the stake it would buy in IT Star or how much it would pay for that stake.
Bangkok-based World Net's core business is to provide Internet service access. It has presence in Ayudha, Chon Buri and Songkhla, the statement said.
Nasdaq-listed PacNet is one of Singapore's ISPs. SembCorp Industries Ltd is a major shareholder of PacNet.
