KUALA LUMPUR (Jan 7): TIME dotCom Bhd has acquired a 60% stake in Malaysia’s leading private cloud computing provider AVM Cloud Sdn Bhd for RM58.7 million.
TIME said the acquisition marks the group’s efforts in accelerating the growth of cloud computing as the newest pillar of its business, alongside fixed line services, global network connectivity and data centres.
“With the inclusion of AVM in the TIME family, the group now possesses a full spectrum of product offerings that can meet the needs of its enterprise customers across the region.
“With almost two decades of experience, AVM is a home-grown brand that was founded by five Malaysian entrepreneurs and has grown from strength to strength, to count themselves as one of the leading VMware service providers in Southeast and North Asia,” TIME said in a statement today.