HKBN Announces Completion of JOS Acquisition
Leapfrogging HKBN's transformation into a one-stop ICT powerhouse
HONG KONG, Dec. 13, 2019 /PRNewswire/ -- HKBN Ltd. ("HKBN" or the "Group"; SEHK stock code: 1310) is pleased to announce the completion of its acquisition of Jardine OneSolution Holdings (C.I.) Limited ("JOS") and its subsidiaries, following the Group's extraordinary general meeting (the "EGM") held on 12 December 2019, which voted in favour of the acquisition.
The addition of JOS leapfrogs HKBN's transformation from the second largest telecom carrier in Hong Kong to a fully integrated Information and Communications Technology (ICT) solutions provider and opens up significant synergy opportunities for growth. With an enlarged customer base, significant scale efficiencies and the combined complementary capabilities of the 2 companies, the Group is now ideally positioned to serve as the pre-eminent technology partner to help their combined enterprise customer base - 1 in every 2 active companies in Hong Kong - realise even greater business potential.
"We are excited to bring JOS's leading ICT capabilities and a wide range of next generation technology, business applications and system integration expertise to our 103,000 enterprise customers," said Billy Yeung, HKBN Co-Owner and CEO - Enterprise Solutions. "Similarly, JOS's 3,000 active customers in Hong Kong can also enjoy HKBN's premier connectivity services and ICT offerings backed by an unprecedented tri-carrier network diversity advantage."
Billy will lead a Merger Integration Team comprising representatives from each key function of HKBN Enterprise Solutions and JOS, and immediately begin the business integration process to bring about synergy and value creation opportunities to customers of HKBN Enterprise Solutions and JOS.
"We are thrilled to welcome the JOS team into our elite sports team, and are especially excited for having invited over 270 JOS Talents to join our Co-Ownership Plan III Plus. At HKBN, our broad-based Co-Ownership culture sets our Talents apart with an entrepreneurial mindset. By putting real skin in the game, our Talents serve a dual role as investors and Talents, with tremendous passion and motivation to deliver success for customers and for HKBN," said NiQ Lai, HKBN Co-Owner and Group CEO. "We're ready to work together to deliver disruptive innovation and far better value for our customers."
For HKBN's acquisition completion announcement on HKEx, please click here: https://reg.hkbn.net/WwwCMS/upload/pdf/en/e_CompletionAnnouncement_JOS.pdf
About HKBN Ltd.
HKBN Ltd. (SEHK Stock Code: 1310, together with its subsidiaries, "HKBN" or the "Group") is an investment holding company. The Group is a leading Information and Communications Technology (ICT) solutions provider in Hong Kong, offering a comprehensive range of premier ICT services to both the enterprise and residential markets, including broadband, data connectivity, managed Wi-Fi, mobile, voice communications, integrated cloud solutions, data centre facilities, business continuity, information security, system integration and OTT entertainment. HKBN's extensive fibre networks cover 2.4 million residential homes and over 7,200 commercial buildings and facilities across Hong Kong. HKBN embraces "Make our Hong Kong a Better Place to Live" as its core purpose, and it takes great pride in developing its Talents into a competitive advantage. The Group is managed by Co-Owners (supervisory and management level Talents in the Group) who have invested their own savings to buy shares of HKBN Ltd. For more information about HKBN, please visit www.hkbn.net/en.
With over 60 years of experience in Asia, JOS is a systems integrator, solutions provider and technology consultancy with deep industry knowledge and an exceptional ability to execute. Comprising 2,000+ IT professionals working from nine offices across Asia's major business hubs in mainland China, Hong Kong, Macau, Malaysia and Singapore, JOS aims to improve the performance of businesses and governments across the region by applying the best technology to address their challenges. JOS has extensive experience across a range of industries, boasting more than 10,000 private and public sector customers in Asia, and core capabilities in artificial intelligence, big data, cloud computing, enterprise applications, enterprise security, internet of things (IoT), mobility and next generation infrastructure. For more information about JOS, please visit www.jos.com.
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