KT Corp of South Korea has acquired Epsilon Telecommunications for KRW 170 billion ($145 million). Epsilon Telecommunications has its headquarters in Singapore, and it offers peering, cloud on-ramp, networking, and routing services. It also operates three data centers across Singapore, the UK, and the US. KT Corp acquired 100% of the Company from Kuok Group. It will control 58% of Epsilon, while the private security arm of Daishin Securities will hold the remaining 42%.
CEO of KT Corp, Hyeonmo Ku, expressed his delight over the acquisition. He said the Company is happy to add Epsilon to the KT family of businesses. He added that Epsilon offers immense value through its global network and Infiny platform that provides a swift approach to global networking. Epsilon was founded in 2003 in London. It operates a 12,900 square feet data center in Singapore, an 11,000 square feet facility in London, and an 8,000 square feet data center in New York.
