Citic Telecom eyeing acquisition spree

By:
James Pearce
Published on:

Chinese vendor is looking into further buys following acquisitions of Acclivis Technologies and Solutions and Linx Telecommunications last year

Chinese vendor Citic Telecom is eyeing up more strategic takeovers following the acquisitions of Acclivis Technologies and Solutions and Linx Telecommunications last year.

Reports in China claim the company, part of the Citic Group, saw net profits increase by 6% to HK$850.1 million (US$109 million), as it moves towards becoming a global corporate services provider.

At a press conference following the release of its 2016 financial results, Citic Telecom chairman Xin Yuejiang discussed plans for further acquisitions, according to the South China Morning Post.

“We will not stop looking for opportunities to acquire foreign companies and form partnerships,” he said.

It follows the acquisitions of Singaporean cloud computing services provider Acclivis Technologies, and the takeover of European infrastructure ar of Dutch company Linx Technologies.

The Linx deal added 14 countries to Citic’s reach, according to Xin.

“The landscape of our corporate business has changed dramatically after we acquired Linx and Acclivis,” Citic Telecom chief executive Lin Zhenhui said.