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| MediaRing enhances IT infrastructure capabilities with acquisition of Delteq Group for S$0.5m |
SINGAPORE – 5th November 2008 – Mainboard-listed MediaRing Ltd (“MediaRing” or the “Group”), a one-stop premier Internet Protocol (“IP”) communications provider of Voice, Data and Infrastructure services in the Asia Pacific, has acquired an IT group in a move to enhance its IT infrastructure business.
The Company today announced that its wholly-owned subsidiary, Cavu Corp Pte Ltd (“Cavu”), has completed a Sales and Purchase agreement to acquire 100% of Delteq Pte Ltd (“Delteq”) for S$0.5 million in cash.
Together with its subsidiaries, the Delteq Group is involved mainly in the supply, rental and maintenance and servicing of computer hardware and peripheral equipment, as well as the supply and customization of business applications in Singapore and Malaysia.
Said MediaRing’s CEO, Mr Khaw Kheng Joo, on the rationale behind the acquisition, “We believe that the existing business of the Delteq Group is highly synergistic to MediaRing’s IT Infrastructure business. By combining forces, we believe that MediaRing’s overall market position in this business sector will be significantly enhanced.”
MediaRing first embarked on its IT Infrastructure business with its acquisition of Cavu in October 2007. Since then, revenue slice from this segment together with the Data business has accounted for 30% or US$20.6 million of Group revenue in 1H 2008.
About MediaRing
With offices in Singapore, Malaysia, Shanghai, Beijing, Hong Kong, Japan, Cambodia and Sunnyvale (USA), MediaRing is the leading VoIP telephony service provider in Asia and enjoys a significant share of the global pure-play VoIP market. Through its strong technological capabilities and extensive distribution network, MediaRing brings high-quality Voice services to carriers, enterprises, service providers and consumers with its wide range of service offerings. Its extensive partnerships with carriers around the world allow call terminations in more than 240 countries worldwide. As a pioneer in VoIP services with unique proprietary technology, MediaRing derives the bulk of its Voice revenue from outside Singapore.
Media Contacts:
August Consulting
Tel: (65) 6733 8873 Fax: (65) 6733 9913
Silvia HENG – silvia@august.com.sg
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