XL's Network Convergence Strategy through Hypernet Acquisition

By Editorial Team 24/03/2022
fiber optic network
Summary

PT XL Axiata Tbk (EXCL) has officially acquired a 51 percent stake in PT Hipernet Indodata or Hypernet for Rp 321.30 billion. XL Axiata has signed a conditional share purchase agreement with Bridgefield Prime Investments Pte Ltd, Ameisys Global Technologies Pte Ltd, PT Mitra Indo Asia, and PT Magna Karya Archipelago as Hipernet shareholders on March 22.

"With the signing of the conditional share purchase agreement, the company will own 51 percent of Hypernet shares or 2,805 shares with the total transaction value of Rp 321.30 billion," XL management reported in information disclosure on the Indonesia Stock Exchange, Wednesday. The acquisition aims to increase the range of products offered by the company to customers.

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