Burst Networks is planning to build Myanmar’s first tier IV data center in Thilawa Special Economic Zone (SEZ) in Yangon region.
Dagon International made this investment in the firm about eight months ago.
“We are interested to invest in companies (including tech-based firms) that could create synergies to our main business,” said Thurane Aung, CEO of Dagon International during an interaction with this portal.
Aung declined to disclose the quantum Dagon invested in Burst. He said, Burst recently had secured a network facilities service (individual) licence from the Ministry of Transport and Communications.
In August 2016, Burst received the approval of the Myanmar Investment Commission to build an eCentre and provide services like hosting, co-location, broadband, unified communication services. Burst is also planning to position itself as a major player in operating satellite services.
DEALSTREETASIA reported last year that Burst Network was raising $12 million out of which they plan to use $8 million for the data center, civil works and satellite equipment. The remaining $4 million will be for the operations, expanding satellite and wi-fi networks in Myanmar.
It has received commitments from existing partner Campana, for civil works and installation from Flexenclosure while 1-Net Singapore will reportedly support Burst’s data center.
Dagon International, a subsidiary of Dagon Group of Companies, was established in 1990 by Win Aung, chairman of the group. Having 15 member companies, the group is a major player in real estate, construction & engineering, hospitality management, retail, food, agriculture, petroleum and power.
Thurane Aung said, their group is focussed on three sectors: logistics, food and power.
Since 2010, when the country moved to a democratic transition, seeing more FDI flowing into the country, Dagon chose the jointly venture path to tap the opportunity.
Within six years, the group set up six joint ventures. One of the companies they are involved in is the Myanmar Japan Thilawa Development Ltd (MJTD), the operator and developer of the Thilawa Special Economic Zone, chaired by U Win Aung, the father of Thurane Aung.
Thurane Aung also takes a position as vice president of MJTD and project director of Myanmar Thilawa SEZ Holdings Limited, currently listed at the Yangon Stock Exchange (YSX).
Another business, Myanmar Agro Exchange Public Limited (MAEX) aiming to be a number one fresh food wholesale market and supply chain company is also chaired by Win Aung and in preparation of being listed on YSX.