Myanmar's internet provider Frontiir acquires US-based cloud storage big data firm
Myanmar based internet service provider Frontiir has acquired US based big data storage company Termaxia and its cloud storage technology.
Frontiir has provided internet services from $0.13 a day to 1.4 million users in Myanmar, Southeast Asia, and Termaxia offers a storage solution targeting exabyte-scale storage.
Termaxia was founded by Dr. Changbin Liu, who holds several US patents and publications, and Dr. Boon Thau Loo, who is also Associate Dean of the Engineering school and Computer Science professor at the University of Pennsylvania with over 140 publications.
"As the use of Internet grows in developing countries, we believe that Termaxia's high-density energy-efficient and cost-effective storage solution is an excellent fit for large-scale usage in developing countries,” said Liu.
“It is rare to find a company like Frontiir that combines cutting-edge technology with social impact. We share their vision to bridge the digital divide between developing and developed countries. We at Termaxia are thrilled to continue our journey as part of the Frontiir team."
Post-acquisition, Termaxia's software-defined storage solution will be expanded in scale of deployment to support Frontiir's ISP infrastructure and future cloud product offerings.
The company added that a new engineering R&D centre will be established near Philadelphia, that will focus on innovations in cloud and software-defined data centre technologies for Frontiir.
"This technology acquisition and more importantly the partnership with expert technologists expand Frontiir's capability to continue its rapid innovation pace through our existing R&D centre in Silicon Valley and a new R&D campus close to UPenn,” said Dr. Godfrey Tan (a.k.a) Dr. Wai Lin Tun, Chairman and CEO of Frontiir.
“We are excited to work together with Dr. Liu and Dr. Loo to bring best-in-class cloud services to the people of Myanmar at price they can afford, something we have already done successfully with internet.”
Southeast Asia’s online economy will be worth more than $240 billion by the year 2025 according to a report by Singapore private investment company Temasek Holdings and Google; as online accounts are labelled as the driving force behind the large sum.