PT Sarana Menara Nusantara Tbk (TOWR) is buying 100% shares of PT iForte Solusi Infotek. The share purchase was carried out by its subsidiary, PT Profesional Telekomunikasi Indonesia (Protelindo).
The company, part of Djarum Group, has signed a conditional share purchase agreement with iForte shareholders Saratoga Group, captained by businessmen Sandiaga Uno and Edwin Soeryadjaya.
TOWR Corporate Secretary, Arif Pradana, hopes that the deal can support the achievement of the company's strategic vision and mission while strengthening its position in the domestic market as an independent telecommunication tower provider.
"The company hopes to build a synergy that will eventually accelerate the company's growth," he said in a written statement on Wednesday (13/5/2015).
Djarum Group is led by brothers Michael and Budi Hartono, who are among Indonesia’s wealthiest. Forbes estimates the brothers’ value at US $16.5 billion (IDR 214 trillion).
iForte is an integrated network solution provider company. Its business activities began in 2002 as a provider of VSAT satellite communication service across Indonesia.
iForte’s main business focuses on the provision of broadband connections and Internet services using VSAT technology, fiber-optic and Broadband Wireless Access (Wireless). Prior to the acquisition, iForte's shareholders were Saratoga Group and Japfa Group.
(Source: detik.com https://finance.detik.com/bursa-dan-valas/d-2914622/grup-djarum-beli-iforte-dari-sandiaga-uno)