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RealTime IT News

Asia Online Buys 2 ISPs in Australia, 1 in NZ

As part of its Asian expansion plans, Asia Online, Ltd announced the acquisition of three ISPs across Australia and New Zealand.

"Australia and New Zealand are key components of our overall strategy to develop a cohesive network of Internet companies in Asia Pacific," said Kevin Randolph, Asia Online's President and CEO.

Originally a Hong Kong-based ISP with an operation in the Philippines, Asia Online has expanded its network to include Melbourne-based Internet Access Australia, InterACT in Canberra and Auckland's Internet Company of New Zealand.

According to Randolph, each company purchased by Asia Online was selected on its ability to make a strategic contribution to Asia Online's plans to provide high quality, end-to-end Internet solutions for corporate clients.

With backing from investors such as Softbank, J.P. Morgan, GE Capital, and other investors, Asia Online is hoping to continue its expansion in the Asia Pacific.

Earlier this year, the company received a US$35 million round of private equity from a J.P. Morgan-led syndicate which also included Pequot Capital, GE Equity, Softbank Technology Ventures, Nexus Capital Partners and Concentric Network.