Carl Grivner – who replaced Bill Barney as CEO of Pacnet earlier this year – told reporters that the company plans to use the investment to grow its data centre presence in Asia.
Grivner expects the expansion to improve the company’s overall performance before reconsidering a public listing of its shares in either Asia or the US.
Pacnet has 18 data centres spanning China, Hong Kong, Singapore and Australia. Last month it secured an Internet Data Centre licence from China's Ministry of Industry and Information Technology (MIIT), enabling it to enhance its data centre services in the city of Chongqing.
The planned data centre investment falls in line with comments from an interview Carl Grivner carried out with Capacity in August this year, where the CEO confirmed the company’s aggressive data centre roll-out strategy across the Asian region.
