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Colt has a city-based expansion strategy, targeting customers operating in information intensive industries. KVH is present in Tokyo, the world’s number one city economy, as well as Singapore, Hong Kong and Seoul; providing a platform in four of Colt’s target cities for expansion.
The Transaction will provide Colt with a platform to enter the APAC ICT services market, which is growing at c.12% per annum.
Colt and KVH operate complementary businesses with similar technology and platforms, business models and product sets. KVH’s business is well known to Colt’s key management, which is expected to assist with implementing Colt’s integration plans.
Rakesh Bhasin, Colt Chief Executive Officer, said: “I am pleased to announce our plan to acquire KVH. It is a growing business, largely focused on network and data centres in Asia. They have strong capabilities, a significant customer base and great assets, all complementary to our own. This partnership will enable Colt to offer our customers seamless solutions on a global basis and give us a solid platform for growth in Asia.”
The Transaction will enhance Colt’s competitive position in serving multi-national customers (“MNCs”), which is expected to provide attractive opportunities for growth.
The Transaction is expected to deliver annual cost and capex synergies of €8.5m by 2017.
