HKBN completes JOS acquisition amid enterprise plans
Hong Kong Broadband Network (HKBN) has completed its acquisition of Jardine OneSolution (JOS) and its subsidiaries, reaffirming the company’s transition into a “fully integrated ICT solutions provider”.
The addition of JOS leapfrogs HKBN's transformation from the second largest telecom carrier in Hong Kong into a one-stop ICT powerhouse and opens up significant opportunities for growth, particularly with the enterprise market.
At the time, Billy Yeung, CEO of Enterprise Solutions at HKBN, said: “We have met with around 100 of our top enterprise customers to learn about their opportunities and pain points. By a mile, the most common desire was for a one-stop-shop ICT solutions partner, rather than separate IT, telecom and other vendors.”
JOS is a systems integrator, solutions provider and technology consultancy with deep industry knowledge and an exceptional ability to execute. It has core capabilities in artificial intelligence, big data, cloud computing, enterprise applications, enterprise security, internet of things (IoT), mobility and next-generation infrastructure.
With an enlarged customer base, significant scale efficiencies and the combined complementary capabilities of both companies, the Group is now well-positioned to serve as a pre-eminent technology partner to help their combined enterprise customer base – half of all active companies in Hong Kong - realise even greater business potential.
"We are excited to bring JOS's leading ICT capabilities and a wide range of next-generation technology, business applications and system integration expertise to our 103,000 enterprise customers," added Yeung, also co-owner of HKBN.
"Similarly, JOS's 3,000 active customers in Hong Kong can also enjoy HKBN's premier connectivity services and ICT offerings backed by an unprecedented tri-carrier network diversity advantage."
Yeung will lead a merger integration team comprising representatives from each key function of HKBN Enterprise Solutions and JOS, and immediately begin the business integration process to bring about “synergy and value creation opportunities” to customers of HKBN Enterprise Solutions and JOS.
In early September, HKBN also announced that it had completed the integration of the former Wharf T&T (WTT), and had turned it into its enterprise solutions business. HKBN completed the $1.3 billion acquisition of WTT in mid-2019.
HKBN is a carrier run by co-owners and it has expanded the co-ownership opportunity to staff of JOS, as it did early this year with staff form the former WTT.
"We are thrilled to welcome the JOS team into our elite sports team, and are especially excited for having invited over 270 JOS Talents to join our Co-Ownership Plan III Plus. At HKBN, our broad-based Co-Ownership culture sets our Talents apart with an entrepreneurial mindset," said NiQ Lai, HKBN co-owner and Group CEO.
“By putting real skin in the game, our Talents serve a dual role as investors and Talents, with tremendous passion and motivation to deliver success for customers and for HKBN. We're ready to work together to deliver disruptive innovation and far better value for our customers."
Yeung and Lai have successfully led the HKBN team of Talents for over 13 years and in May 2018 this was recognised by HKBN’s board of directors when they promoted them both to executive vice-chairman and CEO respectively.
The completion was confirmed following the Group's extraordinary general meeting held on 12 December 2019, which voted in favour of the acquisition.