BT and Frontline Technologies Corporation Limited (Frontline), one of the leading providers of end-to-end IT services within the Asia Pacific region, announced today that they have entered into an agreement for BT to acquire the entire issued share capital of Frontline (the “Acquisition”) for approximately S$202 million.
Frontline provides IT consulting, infrastructure services, systems integration and IT outsourcing to local, regional and multinational customers. The company, which is listed on the main board of the Singapore Exchange, has operations in China, Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines, Taiwan and Thailand.
The Acquisition complements BT’s existing networked IT services capabilities within the Asia Pacific region. Frontline has an excellent reputation for the delivery of complex solutions and network management services to corporate customers with a strong presence in the financial services, transportation, manufacturing, telecommunications, education, healthcare and public sectors.
François Barrault, CEO BT Global Services, said: “This Acquisition will create one of the leading providers of networked IT solutions that will be able to offer a broader portfolio of solutions to local, regional and global customers. Frontline will bring to BT major new contracts in Asia and BT will be in a position to offer Frontline customers the full suite of BT products and services. Through this acquisition we reinforce our ability to provide high quality services to our customers wherever they do business. Frontline brings to BT approximately 5,000 highly skilled and professional people whose reputation for delivering complex solutions and network management services fits perfectly with BT’s strategy. We believe our combined reach and skills will create an unbeatable team in Asia Pacific as we seek to respond better to our customers’ challenges and opportunities.”
Frontline’s Executive Chairman and Founder, Steve Ting said “Since founding Frontline in 1993, we have strengthened our footprint throughout Asia Pacific and we are extremely proud of the company that we have created. Becoming part of BT can only accelerate our future growth and help to create a unique portfolio offering that will benefit our existing and future customers, firmly establishing us as one of the leaders in our space. This proposed transaction is great news for our customers, shareholders and employees.”