TIME dotCom acquires controlling stake in AVM Cloud
in Time dotCom
07/01/2021
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TIME dotCom Berhad, a Telecommunication provider in Malaysia, has acquired a controlling stake in AVM Cloud Sdn. Bhd., a private cloud computing provider.
In a media statement, TIME dotCom said that this acquisition signals its efforts in accelerating the growth of cloud computing as the newest pillar of its business, alongside fixed line services, global network connectivity and data centres. With the inclusion of AVM Cloud in the TIME family, the company now possesses a full spectrum of product offerings that can meet the needs of its enterprise customers across the region.
“TIME is excited to grow cloud computing as the next pillar of our business. We believe we’ve found the right partners in AVM, considering their comprehensive product suite and customer base, ” said TIME’s commander-in-chief Afzal Abdul Rahim.
KUALA LUMPUR: TIME dotCom is accelerating its cloud computing business with the acquisition of a 60% stake in AVM Cloud Sdn Bhd for RM58.7mil cash which will enable it to provide a full spectrum of product offerings for its enterprise customers across the region.
“This acquisition signals TIME’s efforts in accelerating the growth of cloud computing as the newest pillar of its business, alongside fixed line services, global network connectivity and data centres, ” it said in a statement.