Monday, January 31, 2005

Infonet Establishes Subsidiary in Hong Kong

Infonet Services has established a wholly-owned subsidiary in Hong Kong. The company has been providing services in Hong Kong since 1980 through its partner PCCW (previously known as HKT). PCCW will continue to act as a reseller of Infonet services to local enterprises based in Hong Kong.

  • In November 2004, BT agreed to acquire Infonet, a provider of international managed voice and data network services, for $965 million (excluding Infonet's net cash balance of $390 million, the aggregate value of the deal is $575 million). Infonet, which is based in El Segundo, California, has local operations in 70 countries and claims 1,800 multinational customers -- including Siemens, Nokia, Bayer AG International, IBM and Hilton International.


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