Dubai’s Abraaj sells Thai IT investment
Emerging markets investor sells stake to Japanese telco for undisclosed fee
Emerging markets investment firm Abraaj Group has sold its investment in Thailand-based IT company Unitrio to a unit of Japanese telecommunications operator NTT.
Dubai-based Abraaj acquired its unspecified shareholding in Unitrio, which specialises in designing and building data centres, three years ago. Abraaj did not disclose financial details of the sale to NTT Facilities (NTTF), which provides engineering services for data centres, telecommunications and commercial buildings.
"Our investment in Unitrio was well timed as we capitalised on rapid growth in the domestic ICT market," said Abraaj Group managing director Srisant Chitvaranund.
"We believe that NTTF, given their strategic interests in the sector, is the right partner for Unitrio going forward and will enable the company to achieve their next level of growth."
Requirements for data centre space in Asia has increased in the last few years on the back of rising demand for so-called ‘cloud computing' services, which see IT capabilities provided from a third-party site.
Abraaj said that the amount of data centre space in Thailand is expected to double between now and 2015, with revenues derived from these services set to more than triple.
Abraaj, which invests in markets including Asia, Sub Saharan Africa and Latin America, currently has about $7.5bn in assets under management.