Fiji's Amalgamated Telecom Holdings (ATH) has successfully acquired three ICT businesses through its majority stake in Vodafone Fiji.
According to CommsUpdate, ATH now holds 100% ownership of Digitec ICT in Papua New Guinea, as well as the Singaporean and Australian units of ETech ICT. Previously, ATH only held a 49% stake in each of these businesses. However, the leveraged buyout, which was financed through a debt financing deal with the Bank of South Pacific in PNG, has allowed ATH to gain full control.
ATH commended the three companies for their impressive track records in providing advanced solutions to a diverse range of clients in the Pacific. The acquisition will enable ATH to enter new market segments and increase its revenue.
In a filing with the South Pacific Stock Exchange (SPX), ATH stated that this strategic acquisition aligns with its long-term vision of offering comprehensive telecommunications and ICT solutions that empower businesses, government agencies, institutions and individuals while contributing to economic growth and social development in the Pacific region.
