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KT acquires global data company Epsilon Telcom giant aims to enter global data market

Translated by Kim So-in 공개 2021-09-13 07:57:28

이 기사는 2021년 09월 13일 07:54 더벨 유료페이지에 표출된 기사입니다.

South Korean telecom giant KT has acquired Epsilon Global Communications, a global data company owned by Malaysia's Kuok Group, taking a first step to enter the global data market. It plans to continue to look for possible acquisition of global telecommunication and data companies.

KT has acquired 100% of Epsilon with Daishin Private Equity for 170 billion won ($145 million) on Wednesday, according to sources on Thursday.

Founded in London in 2003, Epsilon is a cloud-centric global connectivity and communications service provider, connecting to 260 points of presence (PoP) in 41 cities in 20 countries worldwide. Epsilon has business bases in Singapore, England, U.S., Bulgaria, and Hong Kong.

The latest acquisition is part of KT’s plan to enhance its new B2B business. The telco giant has been focusing on digital transformation services targeting corporate customers by launching its own B2B brand, KT Enterprise. It has expanded its services to IT platform solutions from building wired and wireless networks.

KT CEO Koo Hyun-mo aims to expand the company's presence in the global data market through the first acquisition ever since he took office in March 2020. After taking office, Koo has emphasized the development of new businesses, with subsidiaries functioning as main pillars.

Strong synergies are expected from the outbound deal that has rarely been carried out by KT. The South Korean company has mainly focused on domestic deals for a long time. It has acquired a variety of companies, including Nasmedia, KT Rental, BC Card, Hyundai HCN, but there has been no major overseas investments.

KT’s newly established future value promotion office, which reports directly to Koo, has led the latest acquisition. Koo created the future value task force last year and promoted the task force in just one year. KT’s management and planning division also delegated its authority to carry mergers and acquisitions (M&As) to the future value promotion office, led by KT executive vice president Kim Hyung-wook.

Starting with the Epsilon acquisition, KT plans to make follow-on outbound M&As. It plans to increase the value of Epsilon through bolt-on acquisitions by taking over companies that are part of the global communication and data value chain, including IT platform solution, data solution, and submarine cable companies. (Reporting by Pil-woo Choi)
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