For immediate release
(Hong Kong – 30 May 2018) I Consulting Group Limited (“ICG”) announced today that it was acquired by HKBN Group (“HKBN” or the “Group”) for a total consideration of up to HK$200 million.
Leveraging ICG’s profound expertise in cloud technology, this acquisition strengthens HKBN’s versatility and competitiveness to help enterprise customers build success with complete end-to-end services that range from network infrastructure and system integration to the future of cloud technology. Central to this transaction is that Andy Lau remains as ICG Chairman and Eric Leung takes on the role of ICG CEO, as to lead the integration into HKBN.
Together, ICG and HKBN foresee a tidal wave of datacenter openings in Hong Kong by global cloud providers including the announced opening of Amazon Web Services (“AWS”) Hong Kong Region in 2018. With the full support and backing of HKBN, ICG is expected to become a stronger reseller and MSP of AWS and other cloud services such as VMWare, Microsoft Azure, Alibaba Cloud, Cisco, Druva and Pure Storage. As more and more enterprises accelerate their adoption of cloud and digital transformation, ICG is uniquely positioned to help customers maximise the opportunities for strong business growth. ICG’s list of clients includes many of Hong Kong and Macau’s large enterprises.
ICG Chairman Andy Lau said, “We believe that the biggest winners to arise from the launch of AWS, VMWare, Azure and Alibaba Cloud data centers in Hong Kong is the Financial Services Industry (FSI) as they can now address compliance requirements concerning data storage within Hong Kong which had limited their move to the cloud up to now. On top of helping customers from all sectors navigate and optimise their cloud-powered transition, ICG will focus on providing its cloud adoption advisory services and various solutions especially security to the FSI as well as to HKBN’s over 55,000 existing corporate customers.”
ICG CEO Eric Leung added, “We are honored to become Co-Owners of HKBN. We are attracted by the elite sports team culture of HKBN and excited to lead ICG to be a best-in-class multi-cloud trusted adviser in Hong Kong and Macau.”
HKBN Enterprise Solutions Limited COO Billy Yeung and HKBN Group COO NiQ Lai said, “This transaction is a win-win-win for HKBN, ICG and our combined customer base. As a result, we can now offer complete end-to-end solutions which include system integration and network infrastructure to help empower our customers with the services and expertise they need for success. Due to our combination synergies, we expect this acquisition to be Adjusted Available Cash per Share for Distribution accretive to our Co-Ownership III target over FY18-20.”
To learn more about ICG, please visit www.i-cg.com.
To learn more about HKBN Enterprise Solutions, please visit www.hkbnes.net/en.
ICG aims at linking IT to your business success. As a leading Multi-Cloud Trusted Advisor and the qualified Next-Generation Cloud MSP, ICG accelerates cloud and digital transformation for enterprises across APAC. With numerous successful cloud use cases, enterprises entrusted ICG to deliver the best IT solution through its expertise in cloud assessment, architecture, deployment, management and cost optimization. ICG is an HKBN Group company.
ICG is nominated the World’s Top 50 Amazon MSPs by CHANNELe2e and the only Hong Kong headquartered MSP recognized in the latest Gartner’s Asia/Pacific Context: ‘Magic Quadrant for Public Cloud Infrastructure MSPs, Worldwide’.
About HKBN Group
HKBN Group is Hong Kong’s largest provider of residential high speed fibre broadband (symmetrical 100Mbps to 1,000Mbps) services by number of subscriptions, and a fast growing enterprise solutions provider. The Group offers a full range of telecommunications solutions for both the residential and enterprise markets, encompassing broadband and Wi-Fi network services, cloud solutions, data connectivity, data facilities, system integration, mobile services, entertainment and voice communications. HKBN owns an extensive fibre network in Hong Kong, which covers over 2.2 million residential homes passed, representing approximately 81% of Hong Kong’s total residential units, and more than 2,300 commercial buildings. HKBN embraces “Make our Hong Kong a Better Place to Live” as its core purpose, and takes great pride in developing its Talents into a competitive advantage. The Group is managed by over 300 Co-Owners who have invested their own savings to buy shares of HKBN Ltd., representing the majority of supervisory and management level Talents in the Group. HKBN Group is part of HKBN Ltd. (SEHK Stock Code: 1310).
For additional information, please refer to www.i-cg.com.
For service enquiries, please contact Koey Wong, tel +852 3916 8911, email email@example.com or the ICG web inquiry form www.i-cg.com/contact-us/.
Issued by ICG and HKBN Group
For media enquiry, please contact:
Annie Poon, ICG
Tel : +852 3916 8937
Email : firstname.lastname@example.org
Ada Tsang, HKBN Group
Tel : +852 3999 2285/ +852 9728 9289
Fax : +852 3999 7349
Email : email@example.com
As one elite team, (from left to right) NiQ Lai (Co-Owner and Group COO, HKBN), Eric Leung (CEO, ICG), Andy Lau (Chairman, ICG), William Yeung (Co-Owner and CEO, HKBN) and Billy Yeung (Co-Owner & COO of HKBN Enterprise Solutions Limited) are ready to take on all competitors.
The full ICG team and HKBN management flash a thumbs up to bring more innovation and value for enterprise customers.
(From left to right) Andrew Wong (Co-Owner and CFO, HKBN), Eric Leung, Andy Lau, NiQ Lai, Billy Yeung celebrate the signing of the sales & purchase agreement between HKBN and ICG.