08 January 2021 | Abigail Opiah
ASEAN-based telecommunications business TIME dotCom Berhad has acquired a controlling stake in AVM Cloud Sdn. Bhd., a Malaysian private cloud computing provider.
With the inclusion of AVM Cloud in the TIME family, the group claim to now possess a full spectrum of product offerings that can meet the needs of its enterprise customers across the region.
The company said the acquisition signals TIME’s efforts in accelerating the growth of cloud computing as the newest pillar of its business, alongside fixed-line services, global network connectivity and data centres.
With almost two decades of experience, AVM Cloud was founded by five Malaysian entrepreneurs.
Speaking about the appointment, Afzal Abdul Rahim, Commander-in-Chief of TIME said, “TIME is excited to grow cloud computing as the next pillar of our business.
“We believe we’ve found the right partners in AVM, considering their comprehensive product suite and customer base.
“We warmly welcome them to the TIME family and look forward to establishing a regional cloud business with them across ASEAN.”
Over the past decade, AVM Cloud has established themselves in the industry in competing with and complementing global cloud service providers.
“TIME is excited to have found an entrepreneurially spirited business that encompasses the best that Malaysia has to offer,” said the firm in a written release.
The company now serves over 250 enterprise customers, and AVM’s extensive product suite ranges from private cloud offerings to system integration services via its wholly-owned subsidiary, Integrated Global Solutions Sdn. Bhd.
“We are happy to have joined the TIME family as this has given AVM Cloud the opportunity to scale and grow and extend our products and services to the Group’s customer base,” said David Chan, Chief Executive Officer of AVM Cloud.
“We also hope to capitalise on TIME’s regional footprint to grow a regional cloud business.”