The news comes just a week after HKBN – formerly Hong Kong Broadband Network – announced its expansion into cyber security by buying Jardine OneSolution (JOS) for $50 million.
HKBN CEO NiQ Lai (pictured) said: “HKBN is the only carrier run by co-owners.” It plans to expand the co-ownership opportunity to staff of the former WTT, which has been renamed HKBN Enterprise Solutions.
Lai said: “As co-owners, we care far more than merely salaried employees and are far more empowered to do whatever it takes to partner with our customers rather than merely selling services to them.”
WTT was formerly part of Hong Kong’s Wharf Holdings group, which sold it in 2016 to private equity investors for a reported $1.2 billion. HKBN took over the business earlier this year.
Three years ago HKBN bought NWT, the telecoms business of another Hong Kong group, New World Development Company for HK $650 million ($83 million at today’s rates). With the WTT deal, HKBN now has three separate fibre networks around the special administrative region of China.
Billy Yeung, CEO of HKBN Enterprise Solutions, said, “Our aspiration is to become the primary carrier of choice within the enterprise segment. With our unique tri-carrier network diversity and scale from the integration of HKBN, NWT and WTT, we are now strongly positioned to deliver a compelling service and value alternative to HKT.”
The company said there is an enterprise customer base of more than 100,000.
