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interTouch to Acquire MagiNet

With this acquisition, interTouch's reach will expand to 950 hotels in 63 countries, making it a top class high-speed Internet access service provider in the hospitality industry within the Asia-Pacific region.

interTouch Pte. Ltd.(interTouch), wholly-owned subsidiary of NTT DoCoMo, has agreed with the primary shareholder of MagiNet Pte. Ltd.(MagiNet) to fully acquire MagiNet for approximately US$150 million.

Both companies are Singapore-based providers of high-speed wired/wireless broadband connectivity services and applications primarily to hotels, management companies and travelers worldwide. DoCoMo will provide additional funding of up to US$191 million to interTouch, which includes funds to be allocated to service debt and to facilitate its integration with MagiNet.

The acquisition will simultaneously enhance DoCoMo's continuing efforts to create a "ubiquitous and seamless environment" on a global scale.

Источник: Total Telecom

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