Axiata to invest $2.6m in US-based WSO2 Telco Inc for 70% stake

Image from annual report cover.

Malaysian telecommunication group Axiata Group Bhd plans to invest $2.6 million (MYR9.9 million) for a 70 per cent stake in US-based WSO2.Telco Inc, to form a joint venture leveraging on WSO2’s open source application development software.

Axiata, which has its footprint in Asia, told the local stock exchange yesterday that its wholly-owned subsidiary Axiata Digital Services Sdn Bhd (ADS) had bought five million common shares at $0.0001 and 4.62 million preferred shares in WSO2.Telco at $0.39 apiece.

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