HKBN Announces Completion of JOS Acquisition

HKBN Ltd. (“HKBN” or the “Group”; SEHK stock code: 1310) is pleased to announce the completion of its acquisition of Jardine OneSolution Holdings (C.I.) Limited (“JOS”) and its subsidiaries, following the Group’s extraordinary general meeting (the “EGM”) held on 12 December 2019, which voted in favour of the acquisition.

The addition of JOS leapfrogs HKBN’s transformation from the second largest telecom carrier in Hong Kong to a fully integrated Information and Communications Technology (ICT) solutions provider and opens up significant synergy opportunities for growth. With an enlarged customer base, significant scale efficiencies and the combined complementary capabilities of the 2 companies, the Group is now ideally positioned to serve as the pre-eminent technology partner to help their combined enterprise customer base – 1 in every 2 active companies in Hong Kong – realise even greater business potential.

“We are excited to bring JOS’s leading ICT capabilities and a wide range of next generation technology, business applications and system integration expertise to our 103,000 enterprise customers,” said Billy Yeung, HKBN Co-Owner and CEO – Enterprise Solutions. “Similarly, JOS’s 3,000 active customers in Hong Kong can also enjoy HKBN’s premier connectivity services and ICT offerings backed by an unprecedented tri-carrier network diversity advantage.”

Billy will lead a Merger Integration Team comprising representatives from each key function of HKBN Enterprise Solutions and JOS, and immediately begin the business integration process to bring about synergy and value creation opportunities to customers of HKBN Enterprise Solutions and JOS.

“We are thrilled to welcome the JOS team into our elite sports team, and are especially excited for having invited over 270 JOS Talents to join our Co-Ownership Plan III Plus. At HKBN, our broad-based Co-Ownership culture sets our Talents apart with an entrepreneurial mindset. By putting real skin in the game, our Talents serve a dual role as investors and Talents, with tremendous passion and motivation to deliver success for customers and for HKBN,” said NiQ Lai, HKBN Co-Owner and Group CEO. “We’re ready to work together to deliver disruptive innovation and far better value for our customers.”

SOURCE HKBN Ltd.