Equiteq advises IT Services firm Axentel Technologies on its sale to Park Place Technologies
Equiteq, the knowledge economy M&A specialist, is pleased to announce that it has advised Axentel Technologies, a leading IT firm specializing in high-level maintenance services in Asia, on its sale to Park Place Technologies, the world's largest pure-play post-warranty data centre maintenance organization.
Axentel is the premier provider of IT lifecycle solutions in South-East Asia and Hong-Kong. Founded and led by Jerry Yiu, Axentel enjoys high top-line growth, with recurring revenues and strong renewal rates.
The acquisition of Axentel is a major opportunity for Park Place Technologies to strengthen its foothold in Asia and broaden its portfolio of capabilities in the region, as pointed out by Chris Adams, President and Chief Operating Officer, Park Place Technologies: “Park Place has started building a strong customer base across Asia and the Middle East. The acquisition of Axentel is a major move towards establishing a leadership position in the region, enhancing our service offering and better serving more customers around the world."
Jerry Yiu added, “Joining Park Place’s international organisation is a tremendous opportunity for Axentel, its customers, team members and partners to take the business to a higher level. We’re very proud of having developed the firm so successfully over the past few years on our own resources, we’re now looking forward to accelerating its growth by joining forces with a major global player like Park Place.”
Jean-Louis Michelet, Managing Director of Equiteq Asia-Pacific, commented: “I have been impressed by the strength of the strategic rationale of this deal, as well as the convergence between the two organisations in terms of corporate culture, values, and business development strategy.”
Regarding Equiteq’s role, Jerry Yiu stated, “While joining Park Place looked from the outset like the perfect strategic move for us to make, there were quite a few complex issues that had to be addressed. Throughout the process, the Equiteq team have done a great job at preparing us, assisting us and ironing out all difficulties as they arose. I am sincerely grateful to them for having made this deal possible.”
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