KT Corporation of South Korea has acquired Epsilon Telecommunications.
The Singapore-based communications company provides routing, cloud on-ramp, networking, and peering services, as well as operates three data centres in the United Kingdom, the United States, and Singapore. It operates 260 PoPs (Points of Presence) in 41 cities across 20 countries.
For $145 million, KT acquired the entire company from Malaysia’s Kuok Group (KRW 170bn). Following the acquisition, KT Corporation will own 58 percent of Epsilon, with the remaining 42 percent held by Daishin Securities‘ private equity arm.
“We are pleased to announce the acquisition of Epsilon and to extend a warm welcome to the Epsilon team. Epsilon provides mission-critical networking for global digital transformation and helps enterprise customers maximise the value of cloud computing. It possesses an exceptional combination of technology, people, and innovation that is perfectly aligned with KT’s vision of enabling enterprises through digital platforms “KT Corp. CEO Hyeonmo Ku stated. “Epsilon adds significant value to customers through its Infiny platform and global network, which enables an agile approach to global networking. Both companies share a vision for global digital transformation and a belief in the transformative power of digital platforms.”
Epsilon was founded in 2003 in London and operates the city’s 11,000 square foot (1,000 square metre) 295-rack Telephone House. It occupies 8,000 square feet (743 square metres) and 100 racks in New York’s 60 Hudson carrier hotel; in Singapore’s New Tech Park, the company offers 500 racks across 12,900 square feet (1,200 sqm).
“The acquisition of Epsilon by KT is a significant milestone in our company’s history and a testament to the dedication of our teams around the world. The time is right to provide Epsilon with additional resources and the backing of a global telecommunications leader. We are looking forward to expanding Epsilon and providing innovative solutions and experiences to our new and existing customers worldwide “Michel Robert, Epsilon Telecommunications’ CEO, stated. “The acquisition represents a natural progression for both businesses and an incredible opportunity for customers, partners, and internal teams.”
In May, KT Corp. opened its 14th data centre in Seoul’s Guro neighbourhood. The facility, which is leased from local colocation provider Dreammark One, has a maximum capacity of 335 racks. Last year, the company opened its 13th facility in Seoul, dubbed KT DX IDC Yongsan. The seven-story structure has six underground levels, totaling 48,000 square metres (516,600 sq ft).