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Keppel T&T expands datacenter business into Europe

  01.02.2007    

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has today acquired, through its wholly-owned subsidiary DataOne (Asia) Pte Ltd (DataOne Asia), a 50% stake in the European datacenter operator, Premier Data Centres Limited (PDC). PDC was wholly-owned by Real Capital International Limited (RCI).
Keppel T&T paid €10.5 million to RCI in consideration of RCI assigning 50% of the loan capital (amounting to €25.7 million) in PDC to DataOne Asia and subscribed for 500 new shares in PDC for €1 million. In addition, DataOne Asia has granted a shareholder’s loan of €0.5 million to PDC. The purchase consideration was arrived at on a willing buyer, willing seller basis.
Situated in Dublin Ireland, PDC was founded in 2002 and provides state-of-the-art datacenter co-location and business contingency services. Its facilities are designed to provide the highest standard of security, air handling and high density resilient power. PDC has a very strong occupancy rate with over 95% of its facility fully let on long-term multi-year co-location agreements to leading international blue chip companies in the IT and telecommunications industry including Hewlett Packard (HP) and Global Voice (GV).
Mr Lam Kwok Chong, Managing Director of Keppel T&T, said, “Besides a growing need for more data storage, businesses today place greater emphasis on data security, business continuity and disaster recovery services. We see an increasing need for high grade datacenters. PDC, with its impressive track record, service offerings and customer base, is well-poised to ride on the market’s growth.”
Mr Noel Meaney, founder of PDC, said, “I am delighted that we are partnering with Keppel T&T. The combined strengths of PDC’s operational expertise and Keppel T&T’s business experience and span will provide the ideal business platform to expand and grow our datacenter business across Europe.”
In the past year, Keppel T&T has been active in expanding its reach in new markets in its network engineering and logistics businesses. In October 2006, Keppel T&T enhanced its network engineering business through the purchase of a 30% stake in iCELL Networks Pte Ltd, one of the three companies that were awarded the tender by the Infocomm Development Authority of Singapore (IDA) to operate the “Wireless@SG”. iCELL will install and operate a network of Wi-Fi hotspots delivering broadband internet access in public wireless zones all over Singapore.
In June 2006, Keppel T&T expanded its logistics presence in China with the strategic acquisition of 35% stake in Wuhu Annto Logistics in the southern part of China. Annto has an extensive network of more than 90 transportation, distribution and warehousing facilities in strategic locations across China.
The net tangible asset of PDC as at 31 December 2006 was negative €54.4 million (un-audited). The purchase of the 50% stake in PDC is not expected to have any significant impact on the consolidated earnings per share and net tangible asset per share of Keppel T&T for the current financial year.



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