Acentic Acquired by PhilWeb Corporation and ISM Communications Corp.By Acentic, PRNE
Wednesday, January 13, 2010
Acquisition paves the way for launch for expansion of Digital TV and HSIA services to the Asia and Middle East markets
COLOGNE, Germany, January 14 - Acentic, a leading supplier of digital interactive TV (iTV) systems for
the hotel industry is pleased to announce the acquisition of the company by
PhilWeb Corp. (WEB) and ISM Communications Corp. (ISM) which acquired a 65%
stake in Acentic on January 11, 2010. The acquisition allows Acentic to
further extend their digital TV and high speed internet access (HSIA)
services throughout the European market and expand to the Asia-Pacific
region, the fastest growing hotel market in the world.
The acquisition also strengthens the gaming offering Acentic will provide
to its current and future hotel customers. WEB is one of the leading gaming
and e-gaming technology companies in Asia.
"We are excited about the entry of WEB and ISM in Acentic and taking
Acentic to the next level," said Alistair Forbes, CEO, Acentic. "Our digital
TV and HSIA services are already in many of the world's leading hotel chains
in Europe and are a perfect fit to the IT business of ISM and the gaming
expertise of WEB."
On December 24, 2009, WEB and ISM informed the Philippine Stock Exchange
that through a jointly and equally owned Hong Kong special purpose vehicle
entered into a binding agreement with Global Innovation Partners (GI
Partners), a private equity firm based in the United Kingdom (UK), for the
acquisition of a controlling 65% stake in Acentic. The remaining 35% of
Acentic will continue to be owned by Niantic Holding GmbH, a German company
controlled by Dr. Andreas Jacobs.
Forbes added: "We're looking forward to the changes and growth this new
dynamic brings to the Acentic family in 2010 and beyond. As a company that
has always been dedicated to customer service and quality products, we remain
dedicated to keeping our hotels happy and helping them deliver the best in
room services possible to their guests.
"The substantial number of hotel rooms currently under contract to
Acentic and the imminent roll out of Acentic Asia provides WEB with enormous
opportunities to expand its gaming business, which is today limited only to
the Philippine market, to many other major countries principally in Europe
and the Middle East," said Dennis Valdez, President, PhilWeb (WEB). "WEB will
have an instant platform of 200,000 rooms in Europe as a market for its
internet gaming offerings. WEB's participation in the acquisition of Acentic
will enable WEB to have a quantum increase in its business prospects
worldwide and well beyond just the Philippine market."
Acentic is an international provider of digital TV services to hotels.
Acentic's digital content, technology, support and services deliver
entertainment and revenue generation tools via the hotel television,
providing a unique communications system that meets the evolving lifestyles
of guests. Acentic's digital TV services are in many of the world's leading
hotel chains including Accor, Dorint, Intercontinental Hotel Group, Hilton,
Hyatt, Maritim, Marriott, Movenpick and Starwood in more than 30 countries in
Europe, Middle East and Africa. For more information, visit www.acentic.com
or follow us on Twitter @acentic.
Media Contacts: Smaro Makaronidou, Acentic +49-171-6973108 Smaro.Makaronidou@acentic.com Jennifer Hicks or Alex Crabb, ink Communications +33-(0)9-66-02-24-93 or +1-617-959-7794 or +1-617-956-2214 firstname.lastname@example.org
Smaro Makaronidou, Acentic, +49-171-6973108, Smaro.Makaronidou at acentic.com; or Jennifer Hicks, jennifer at theinkstudio.com, or Alex Crabb, both of ink Communications, +33-(0)9-66-02-24-93, or +1-617-959-7794, or +1-617-956-2214
Tags: Acentic, Cologne, France, Germany, United Kingdom