Fiji-based Amalgamated Telecom Holdings (ATH) has announced that, through wholly owned Singapore-incorporated subsidiary ATH International Venture, it has struck a deal to acquire 70% shareholdings in each of Digitech Group companies Digitec Communications, Etech and Etech ICT for a consideration of USD13.32 million. The Digitech Group operations are based in Papua New Guinea, Singapore and Australia and provide internet services, computing hardware, software and cloud services in Papua New Guinea.
In a market announcement dated 21 May 2019, ATH confirmed it has already made a partial USD5 million payment to the sellers and that completion of the transaction is subject to the agreement and funding of a business plan for the forward-looking expansion of the business.
ATH is a publicly listed company and Fiji’s principal telecom holding company. Its business ventures comprise Telecom Fiji Limited (TFL), Vodafone Fiji, FINTEL, Fiji Directories, ATH Kiribati, Telecom Vanuatu, Datec (Fiji) and its subsidiary Datec Australia, and the Bluesky Group. The Fiji National Provident Fund (FNPF) is ATH’s largest shareholder.