In a few deal announcements in the Asean region, Exabytes Capital Group Sdn Bhd, Malaysia’s cloud solutions provider, acquired HostPro2U, data center service provider while Philippine-listed snack and beverage company Universal Robina Corp agreed to purchase stake in potato chip venture partner Calbee, the Japanese snack giant, for P170 million ($3.13 million).
Universal Robina buys out partner stake in Japan’s Calbee
Philippine-listed snack and beverage company Universal Robina Corp (URC) announced that it has agreed to purchase the 50-per cent shares of its potato chip venture partner Calbee, the Japanese snack giant, for P170 million ($3.13 million).
Calbee’s exit comes as the Philippine joint venture continues to post losses since its establishment in 2014.
In a disclosure to the Philippine Stock Exchange, URC said the purchase will allow it to have full control of the joint venture – Calbee-Universal Robina Corporation Inc (CURC) – consistent with its agenda of driving an aligned and scalable snacking category growth.
CURC was established in April 2014 as part of Calbee’s move to enter the Philippine market, which it regarded back then as one of the promising snack foods markets. The JV venture, however, fails to meet the expectations of Calbee as it continues to post losses in the three years that followed.
“The joint venture aimed to grow sales of Calbee products and expand market in the Philippines. However, after three years passed from the start of production and sales of CURC products, Calbee discussed with URC and mutually agreed that URC would take over the joint venture business,” Calbee said in a separate statement.
The decision was based on the review of overseas business strategy of Calbee and the profitability of the business.
Malaysia’s Exabytes Capital Group completes third acquisition in HostPro2U
Exabytes Capital Group Sdn Bhd, Malaysia’s e-commerce and cloud solutions provider, has acquired HostPro2U, a data center service provider, owned by E-Global Innovative Sdn Bhd, according to an announcement.
The acquisition was completed in September for an undisclosed amount.
For the past decade, HostPro2U has provided services like web hosting, email hosting and other co location services and the acquisition is part of the Exabytes Capital Group’s expansion strategy to move up the value chain of being a e-commerce and cloud solutions provider.
HostPro2U is the third acquisition for Exabytes this year following ICONZ-Webvisions Sdn Bhd (IWV Malaysia), a KL-based enterprise cloud provider, and Cybersite Services Pte. Ltd, Singapore incorporated business provider of web related services. Exabytes paid about S$2.2 million ($1.6 million) for the purchase.
Exabytes Group has data centers in Kuala Lumpur, Penang and Cyberjaya (Malaysia), Singapore, Indonesia, Hong Kong, Tokyo and the U.S.