Citic Telecom in quest for more strategic acquisitions
Global operations expand after the takeover of Acclivis in Southeast Asia and Linx in Europe
Citic Telecom International Holdings, a subsidiary of China’s largest conglomerate, plans to pursue more strategic acquisitions and alliances after reporting a moderate rise in profit last year.
Xin said the company’s recent acquisitions have helped it transform into a global corporate services provider, which is poised to accelerate its cloud and data centre operations.
That expansion will be mainly anchored around the company’s two recent acquisitions, Singaporean cloud computing services provider Acclivis Technologies and Solutions, and the European network infrastructure business of Netherlands-based Linx Telecommunications.
Cloud computing enables companies to buy, sell, lease or distribute online a range of software and other digital resources as an on-demand service, just like electricity from a power grid. These resources are managed inside data centres. “Cloud” refers to the internet as depicted in computer network diagrams.
“The landscape of our corporate business has changed dramatically after we acquired Linx and Acclivis,” Citic Telecom chief executive Lin Zhenhui said.