Inovisi, an Indonesian telecommunication infrastructure company recently announced that they have acquired 10% of Nextnation ownership stock. Nextnation is an application service provider company based in Kuala Lumpur, Malaysia.
Inovisi went public in the IDX stock exchange since 2009 and they decided to acquire Nextnation after previously establishing a co-operation contract (vendor-client) between two parties for a USD 22.5 million worth of project for 3 years period.
Inovisi stated that the demand for IP infrastructure has begun to increase in Indonesia and the strategic partnership between Inovisi-Nextnation is the right step to stabilize Inovisi as a major player in the IP infrastructure.
Nextnation also stated that this strategic partnership will further strengthen their step to expand into rapid-growing Indonesian market.
The acquisition process will begin by taking 10% of Nextnation stocks, but the process will continue until the final stage where Inovisi would be able to take 30% of Nextnation ownership stocks . This year they are targeting USD 125 million revenue.
Full Press Release.
Asia NASDAQ IT giant in making.