KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has bought an initial 40 per cent stake in a leading web hosting and cloud service provider Exabytes Capital Group for RM44 million, with an option to increase up to 54 per cent.
Launched in 2001, Exabytes is one of the leading multi-market web hosting companies in Southeast Asia and serves more than 100,000 customers ranging from individuals, small to medium enterprises, public listed companies and government agencies.
Ekuinas chief executive officer Syed Yasir Arafat Syed Abd Kadir said it was broadening its footprint in the services industry.
“True to our mandate, we are investing in and nurturing high-potential local companies that are ready to scale and compete regionally, if not globally.
“Exabytes is a prime example of a company that has the platform to be a regional leader that can position Malaysia as a hub for business and talent,” he said in a statement today.
He added that through Exabytes, Ekuinas would be able to capitalise on the booming internet economy globally, which is currently valued at US$3.5 trillion.
This is Ekuinas’ second investment in technology services.
Ekuinas said Exabytes was a dominant player in three markets and had delivered consistent historical financial performance and customer growth every year.
“Given its strong, experienced and founder-led Senior Management team, we are confident that Exabytes will continue on its growth trajectory with the global market for hosting expected to grow at nine per cent annually driven by increasing internet penetration and digitalisation of businesses,” it said.