HKBN Acquires ICG for HKD 200 Million

Hong Kong Broadband Network (HKBN) has acquired I Consulting Group Limited (ICG), a managed service provider of cloud-powered services, for HKD 200 million. Andy Lau will continue to serve as ICG chairman and Eric Leung will take up the role of ICG CEO, to lead the integration into HKBN.

“This transaction is a win-win-win for HKBN, ICG and our combined customer base. As a result, we can now offer complete end-to-end solutions which include system integration and network infrastructure to help empower our customers with the services and expertise they need for success. Due to our combination synergies, we expect this acquisition to be Adjusted Available Cash per Share for Distribution accretive to our Co-Ownership III target over FY18-20”, said HKBN Enterprise Solutions COO Billy Yeung and HKBN Group COO NiQ Lai. – Telecompaper