Maxis acquires MyKRIS Asia for up to RM157.5 mln in bid to expand managed network capabilities

KUALA LUMPUR: Maxis Bhd has acquired high-speed Internet service provider MyKRIS Asia Sdn Bhd for up to RM157.5 million.

In a filing with Bursa Malaysia today, Maxis said the acquisition, which primarily includes adding a pool of experts comprising 70 qualified engineers and support team, will further enhance its capabilities anchored by Maxis Programmable Network and represents the foundation for future 5G readiness from Private Network to 5G Fixed Wireless Access.

"Our latest acquisition reinforces Maxis' position as a leading converged solutions provider in Malaysia.

"Importantly, it represents our commitment to investing in the nation and supporting the digital economy, as well as enable businesses to 'Always Be Ahead'," said chief executive officer Gokhan Ogut.

Meanwhile, Maxis chief enterprise business officer, Paul McManus noted that managed network and security services are vital components for digital transformation strategies.

"With MyKRIS Asia coming onboard, we look forward to expanding our suite of network solutions and technical capabilities built on top of our best-in-class Maxis Programmable Network," he said.

Maxis also said that the acquisition of MyKRIS Asia is expected to conclude by the first quarter of 2022, subject to the fulfillment of pre-agreed deal conditions including approvals by MyKRIS Asia shareholders.

MyKRIS Asia is the main operating subsidiary of MyKRIS International Bhd, a holding company listed on the Bursa LEAP market.

-- BERNAMA