Digital Edge Announced Intention to Increase its Majority Investment in PT IndoInternet Tbk

Digital Edge (Singapore) Holdings Pte. Ltd. (“Digital Edge”), through a wholly owned subsidiary, has announced it has acquired the remaining shares held by the original founders of PT Indointernet Tbk (“Indonet”), a leading Indonesian digital infrastructure company, thereby increasing its majority investment in the company. This follow-on investment will enable Digital Edge to bolster its service offerings to its colocation customers, leveraging Indonet’s full suite of dark fiber, cloud and network service assets.

The transaction follows Digital Edge’s initial acquisition of a controlling stake in Indonet in 2021. This upsize was facilitated through an off-exchange sale of shares by Otto Toto Sugiri and the other four founders of Indonet and was funded through a combination of capital from Digital Edge alongside an external debt facility.

Commenting on the transaction, CEO of Digital Edge Samuel Lee remarked “We’re excited about the significant growth potential of Indonesia’s digital infrastructure market, with the domestic cloud and data center sectors both predicted to see double digit CAGR of 28% in the coming years. This additional investment in Indonet further consolidates our position in the market and will enable the continued deepening of the fiber and connectivity services we offer our colocation customers across the platform.”

He added, “I would like to extend our heartfelt gratitude to Pak Toto and the founding members of Indonet for being pioneers in the Indonesian digital infrastructure landscape and for steering Indonet into the leading company it is today. We remain committed to bridging the digital divide across Asia Pacific and look forward to continuing to build on Indonet’s long standing success.”

Indonet Founder and Board Commissioner member Otto Toto Sugiri added: “I have known Samuel and the members of the Digital Edge leadership team for more than a decade. I have greatly enjoyed partnering with them over the past few years to further our shared vision to enable Indonesia’s ongoing digital transformation. Building Indonet from the ground up has been one of my greatest achievements and I am confident the Digital Edge team will continue to take the business from strength to strength, and further capitalize on the significant growth opportunities in the Indonesian digital infrastructure market.”