Telecoms group Colt is planning a €130.3m (£102.7m) takeover of Tokyo-based data centre firm KVH, a move it says will help it to grow in key Asian cities and deliver services across the region.
Colt said the takeover, if approved by shareholders, would be funded by existing cash and bank facilities of the company.
“They have strong capabilities, a significant customer base and great assets, all complementary to our own,” said Colt chief executive Rakesh Bhasin on the deal.
“This partnership will enable Colt to offer our customers seamless solutions on a global basis and give us a solid platform for growth in Asia.”
The acquisition is also expected to deliver annual cost and capex synergies of €8.5m, and play into Colt’s strategy of targeting cities with customers operating in information intensive industries.