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KinerjaPay to Acquire PT. Kinerja Indonesia to Add Cloud Computing Capabilities
Wednesday 16 May 2018

16 May 2018 - Indonesia-based digital payment and eCommerce platform KinerjaPay Corp., (OTCQB: KPAY) plans to acquire Indonesia-based data centre services provider PT. Kinerja Indonesia to add cloud-computing services to its capabilities, the company said.
The company will issue 1,333,333 restricted common shares to acquire PT. Kinerja Indonesia. Additional terms were not disclosed.
The rapid expansion of KinerjaPay has enabled the company to have the ability to consolidate its IP technology and data centre assets.
This acquisition will enable KinerjaPay to report all the sales running through the KinerjaPay network under GAPP rules. In addition, it will now own its cloud network and IP technology.
The acquisition positions the company to launch its services into Vietnam and Thailand. Owning the cloud-based technology will enable the company to offer its customers the ability to expand beyond Indonesia.
KinerjaPay provides an omni-channel platform where users can perform various payment services such as credit card bill payment, utility, phone bill, healthcare insurance and direct transfer to anyone at their convenience.
Date Published: 16/05/2018
Target: PT. Kinerja Indonesia
Country: Indonesia
Deal Size: 1.15m (USD)
Sector: Telecommunications
Type: Corporate acquisition
Financing: Stock
Status: Agreed
Buyer: KinerjaPay Corp