PE-Firm I Squared Capital Acquires InfoFabrica Holdings and Cloud Kinetics Tech

I Squared Capital, a private equity firm focused on global infrastructure investments, has acquired a pair of Asian cloud migration services companies for an undisclosed sum.

These are M&A deals number 524 and 525 that ChannelE2E has covered so far in 2020. See the full M&A deal list here.

Company Insights

Combined, the two companies, InfoFabrica Holdings and Cloud Kinetics Tech, are poised to become a leading cloud migration and managed services provider in Southeast Asia and India, according to I Squared. Southeast Asia’s cloud computing market is expected to reach $40 billion by 2025, according to IDC.

Founded in 2013, InfoFabrica operates in Singapore, Indonesia, Vietnam and Malaysia. The company is a certified Cloud partner of Amazon Web Services, Google Cloud and IBM Cloud.

Cloud Kinetics was founded in 2012 and operates in Singapore, Thailand, India and the United States. The company is a certified Cloud partner of Microsoft Azure, Amazon Web Services and Google Cloud.

I Squared Capital operates throughout the Americas, Europe and Asia. The firm has offices in Miami, Hong Kong, London, New Delhi, New York and Singapore. The firm appears to be branching out from its usual investment targets of energy, utilities, transport, and telecom projects. This new investment is part of its Asian digital infrastructure platform, which I Squared says will enable its digital infrastructure companies to offer comprehensive cloud-based solutions to its customers.

The platform will have more than 300 employees, the firm said. It is co-founded and being led by Saleh “Haji” Munshi, a technology executive who has held senior leadership positions at Google Cloud, Cisco, Hewlett Packard Enterprise and Dell, and Tameem Ebrahim, ex-founding partner of Quvat Capital and a former investment banker at Merrill Lynch and Deutsche Bank in southeast Asia.

I Squared Acquires InfoFabrica Holdings and Cloud Kinetics Tech: Executive Insight

Gautam Bhandari, Managing Partner, I Squared Capital

Haji Munshi, group CEO, Cloud Kinetics and InfoFabrica

Gautam Bhandari, managing partner of I Squared Capital, commented on the news:

“The future of data and computing will be driven by the corporate adoption of hybrid Cloud solutions through an orchestrated mix of on-premises infrastructure, co-location and Cloud services. Offering seamless and efficient migration to the hybrid Cloud relieves a critical bottleneck to Cloud adoption, especially in the Asia-Pacific region. The combination of InfoFabrica and Cloud Kinetics will result in a powerful Cloud migration solution provider for our clients. With these acquisitions, our global investments and commitments to the Digital Infrastructure sector are over $2.6 billion and growing.”

Haji Munshi, group CEO of InfoFabrica and Cloud Kinetics, said:

“The debate on the need for Cloud has ended after the experience of the Covid-19 pandemic. Whether businesses are developing and testing their new applications, scaling their online e-commerce offerings, or running their core business workloads, this is possible only because of the stable, scalable solutions offered by the public Cloud. The demand for technical capability to migrate to Cloud has far outstripped supply in Asia-Pacific thus far and the combined company will be a market leader in Cloud migration services.”

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