XL Axiata of Jakarta, Indonesia has paid roughly US$22 million to acquire 51% of Hypernet Technologies -- a major managed IT services provider (MSP) also known as PT Hipernet Indodata. A deal valuation based on annual profit multiples was not disclosed.This is technology M&A deal number 379 that ChannelE2E has covered so far in 2022. See more than 1,000 technology M&A deals involving MSPs, MSSPs & IT service providers listed here.Hypernet Technologies is a major MSP that offers Internet management, WiFi, cloud, business application and IT services. The company has roughly 200 employees.Meanwhile, XL Axiata supports more than 57.9 million customers across Indonesia. Key capabilities include fiber networks, transmission, backhaul, network modernization, and telecom services.In a prepared statement about the Hypernet Technologies investment, XL Axiata CEO Dian Siswarina said:Added Hypernet Technologies CEO Sudianto Oei:
“The era of digitalization in all industrial sectors is an opportunity for XL Axiata to continue to develop its business in corporate services. We have the expertise and resources in this field. However, we must reinforce ourselves because the competition in this business is also quite tight. Given PT Hipernet Indodata's competence and experience, the acquisition of PT Hipernet Indodata shares is a strategic choice to strengthen this corporate service business line."
“Our experience as Managed Service Provider (MSP) for over 15 years with advanced XL AXIATA’s 4G networks and fibre optic will definitely help corporate customers to accelerate the process of digital transformation in the new normal era”.
