Two Singaporean cloud migration companies acquired by US private equity firm

US private equity firm I Squared Capital (ISC) has announced the acquisition and merger of Infofabrica Holdings Pte Ltd and Cloud Kinetics Tech Pte Ltd, two cloud migration services companies based in Singapore.

The acquisition was completed through ISC’s ISQ Global Infrastructure Fund II as part of its Asia Digital Infrastructure platform, a service with over 300 experienced deep tech professionals that offer cloud-based solutions to ISC’s clients.  

“The future of data and computing will be driven by the corporate adoption of hybrid cloud solutions through an orchestrated mix of on-premises infrastructure, co-location and cloud services. The combination of Infofabrica and cloud Kinetics will result in a powerful cloud migration solution provider for our clients,” said Gautam Bhandari, Managing Partner of ISC.

With the acquisition of both companies, I Squared Capital now has an accumulated total of US$2.6 billion dollars in digital infrastructure investment.

“The debate on the need for Cloud has ended after the experience of the COVID-19 pandemic,” said Haji Munshi, Group CEO of Infofabrica and Cloud Kinetics.

IDC predicts that Southeast Asia’s Cloud computing market will reach $40 billion by 2025.

“Whether businesses are developing and testing their new applications, scaling their online e-commerce offerings, or running their core business workloads, this is possible only because of the stable, scalable solutions offered by the public cloud,” said Mr. Munshi. 

“The demand for technical capability to migrate to Cloud has far outstripped supply in Asia Pacific thus far and the combined company will be a market leader in cloud migration services,” he added.

Mr. Munshi co-founded and will lead the new Asia Digital Infrastructure platform. He has held senior leadership positions at Google Cloud, Cisco, Hewlett Packard Enterprise and Dell.

“We are really pleased to be partnering with I Squared Capital, their expertise and breadth in Asia, along with existing large-scale investments in telecoms and data centers, will certainly accelerate and move us closer to our vision to be the top cloud migration and managed services provider in the region,” commented Abu Bakar Mohd Nor, Chairman of InfoFabrica.

InfoFabrica was founded in 2013, and has operations in Singapore, Indonesia, Vietnam and Malaysia. Cloud Kinetics was founded in 2012, and has operations in Singapore, Thailand, and the US.

Both companies are certified partners of Amazon Web Services and Google Cloud.

By Jie Yee Ong, Tech Reporter

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