KT Corp., South Korea’s largest telecommunications company, has acquired Singapore-headquartered Epsilon Telecommunications, a global connectivity provider that simplifies how businesses connect applications and data around the world and in the cloud for $145 million.
Under the terms of the acquisition, KT is to buy a 100 percent stake in Epsilon from Malaysia-based multinational conglomerate, Kuok Group along with Daishin Private Equity, a subsidiary of Daishin Securities, which took part in the deal as an investor. As a result, KT will hold a 58 percent stake and Daishin PE the remaining 42 percent.
The acquisition matches Epsilon’s agile innovation in international networking with KT’s world-class telecommunications services, customers, leadership, and resources.
“We are excited to announce the acquisition of Epsilon and welcome the team to the KT family of businesses. Epsilon provides mission-critical networking for global digital transformation and maximizing the value of cloud for enterprise customers. It has a tremendous mix of technology, teams and innovation that are directly aligned with KT’s vision for enabling enterprises with digital platforms,” said Dr. Hyeonmo Ku, CEO at KT Corp. “Epsilon provides great value with its Infiny platform and global network, which offers customers an agile approach to global networking. Both companies share a vision for global digital transformation and the power that digital platforms have to change industries.”
Epsilon’s NaaS platform Infiny provides businesses with a suite of high-performance connectivity and communications services at the click-of-a-button.
KT benefits from Epsilon’s fully managed connectivity services with automation, orchestration and a comprehensive approach to end-to-end service delivery. Epsilon offers consistent and reliable connectivity to leading data centers, clouds and internet exchanges via its global private backbone network.
Michel Robert, Epsilon Telecommunications CEO, said, “The acquisition is a logical next step for both businesses and a fantastic opportunity for customers, partners and internal teams.”
KT gains connectivity to the world’s leading communications and technology hubs in 41 cities, with extensive presence across the Asia-Pacific including Mainland China. With Epsilon’s suite of connectivity solutions spanning cloud connectivity, ethernet (DCI), remote peering, access, SD-WAN, colocation and voice, KT is extending its capabilities to meet the changing demands from carriers, channel partners and enterprises across the globe.