Telkom Indonesia to acquire GTA
02 June 2015 |
Telkom Indonesia is to acquire Guam-based GTA from Japanese private equity firm Advantage Partners, according to local reports.
The deal will see Telkom USA – an international arm of Telkom Indonesia – acquire Advantage Partner’s stake in GTA’s parent company, TeleGuam Holdings.
Financial details have not yet been disclosed and the deal remains subject to approval from regulators in both Guam and the US.
“After 10 years of private-equity ownership, I believe this is a good time to transition the company to a successful international telecommunications firm such as Telkom,” said Robert Haulbrook, CEO and president at GTA.
“Since our privatisation in 2005, employees have successfully transformed GTA into a rapidly growing company with a reputation for excellence in landline, mobile and internet products. I’m certain that GTA will greatly benefit from the wealth of knowledge, investment focus, technical proficiency and employee development for which Telkom is known.”
Telkom will also benefit from Guam’s strategic geographical location, with several subsea cables between Asia and the US landing on the island.
“[Guam] has one of the highest GDP per capital among Asian markets with a well-educated workforce pool, and is a great adopter of new mobile and fixed technology,” said Honesti Basyir, CMO at Telkom Indonesia.
Telkom USA and GTA are both part of the South East Asia United States (SEA-US) cable consortium; a cable spanning Indonesia, the Philippines, and the US via Guam and Hawaii. It is due to go live in 2016.
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