IFORTE EXECUTED CONDITIONAL SALE AND PURCHASE AGREEMENT TO ACQUIRE SHARES IN VARNION
News · Monday, 17 April 2023 04:30
Jakarta, 17 April 2023 – Protelindo strengthens its fiber optic-based telecommunications infrastructure business through its subsidiary, PT IForte Solusi Infotek (iForte) by acquiring 60 percent of shares in PT Varnion Technology Semesta (Varnion). This corporate action was carried out by the execution of Conditional Sale and Purchase Agreement (CSPA) at iForte's office located in Menara BCA, Central Jakarta. The signing was carried out by Vice President Director Iforte, Silvi Liswanda, Director of iForte, Hartono, dan CEO of Varnion, Alexander Budiman.
Vice President Director of iForte, Silvi Liswanda, said that this corporate action will strengthen and confirmed iForte's position as one of the largest fiber optic-based telecommunication infrastructure companies, considering that Varnion has a strong position and brand for the connectivity business in the hospitality industry in Indonesia. "At the end of 2022, iForte owned and operated 155,000 km of fiber optic serving around 3,000 corporate customers. We are optimistic that the collaboration between iForte and Varnion will have a positive impact and produce new breakthroughs for customers, especially for customers from the hospitality industry," said Silvi.
In line with Silvi, Varnion CEO, Alexander Budiman said, "As a partner, Varnion also hopes that this synergy can provide new breakthroughs for tourism and hospitality stakeholders and increase the level of internet satisfaction to customers and even produce new innovations in order to face the upcoming Society 5.0 era".
Hartono, Director of Iforte and Chief of Business Development of Protelindo Group added that with this collaboration, synergy was established between iForte and Varnion, especially in the hotel industry segment. "Varnion is indeed known as a hospitality internet solution provider that collaborates internet networks with in-house applications such as Megalos, Vica and Keponet, so that it has added value for customers in the hotel industry," Hartono said.
In addition, this acquisition is a proof of Protelindo Group's commitment to continue to grow into an integrated telecommunications infrastructure company with a wider range of services to accelerate the company's growth to be more productive. This acquisition also provides synergy to Protelindo Group's fiber optic network so that it becomes more efficient with a higher utilization ratio.
"Our focus at Protelindo Group is always to provide benefits and create accelerated business growth for our company," Hartono concluded.
iForte is a subsidiary of PT Profesional Telekomunikasi Indonesia or known as Protelindo, a subsidiary of PT. Sarana Menara Nusantara, Tbk. Protelindo is one of the largest independent tower providers in Indonesia, with nearly 30,000 towers and around 55,000 tenants.
Until the end of 2022, iForte has successfully built and operated a fiber optic cable network of more than 155,000 km connecting around 30,000 towers in Indonesia with fiber optic cable networks, and has operated more than 6,000 VSAT sites and served around 3,000 corporate customers.
GM Marketing Communication PT iForte Solusi Infotek
Grace Kelly Banea
Head of Public Relations &; Social Media