KUALA LUMPUR: US private equity firm KKR has inked an agreement to invest US$400mil in Malaysian subsea telecommunications cable services provider OMS Group.
In a joint statement, the companies said this marked KKR’s latest digital infrastructure investment in South-East Asia, underlining its conviction in the role digitalisation plays in the region’s burgeoning internet economy.
No further details of the deal was not disclosed.
Director (infrastructure) of KKR Projesh Banerjea said OMS Group has established itself as a market leader with a longstanding track record of success and growth in South-East Asia.
“Our tailored solution for OMS Group also creates strong adjacencies with KKR’s recent digital infrastructure investments and builds on long-term secular tailwinds in the region, including increased data consumption, enterprise cloud needs, a focus on digitalisation by governments, and a booming digital economy.
“We look forward to sharing our global network and infrastructure expertise to take OMS Group to its next stage of growth.”
Meanwhile, OMS Group chief executive officer Ronnie Lim said KKR’s investment in OMS Group underscored the value of OMS Group’s capabilities, which provided economic value to communities, corporations, and countries around the world by constructing and maintaining critical subsea data infrastructure.
“Together with KKR’s strong track record in supporting and investing in data infrastructure assets and its platform-building expertise, OMS Group is in a stronger position to support its clients to build and maintain greater global connectivity,” Lim added.
Past KKR investments in South-East Asia digital infrastructure included the regional data centre platform of Singtel, a leading Asian communications technology group headquartered in Singapore, and Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines. Globally, KKR’s investments in digital infrastructure have included CyrusOne, a global leader in the development and operation of sustainable, scalable, high-availability and flexible data centre solutions, and Global Technical Realty, a build-to-suit and roll-up acquisition data centre platform in Europe.
