Released on 15 Apr 2022
Racks Central a leading carrier neutral data centre in Singapore has agreed to acquire a significant minority stake in ICONZ Webvisions (the “Company”), a leading cloud and managed service provider in South East Asia.
ICONZ Webvision’s business has evolved over the years from a email/web-hosting provider into a full-pledged cloud service provider providing IaaS (Infrastructure as a Service), managed and professional services to government agencies and corporations large and small. The Company has also recently launched a public cloud platform to support applications service providers, small and medium businesses and start-ups. According to a CIO report, the market size for cloud business in South East Asia is expected to be $40.32B by 2025.
"We are pleased to welcome Racks Central as our new strategic partner as part of our expansion journey for our cloud and managed service business into South East Asia,” said Ong Teck Guan, CEO – Iconz-Webvisions. “We will not only continue to leverage on Rack Central’s current infrastructure and network to further enhance our cloud products and offering, but also infrastructure and other projects in the region,” added Ong.
Bobby Wee, CEO at Racks Central, will join the Board of ICONZ Webvisons once the transaction completes. He states: "We are very excited to partner with the existing stakeholders, management and employees of ICONZ Webvisons in the long-term development of the Company. We will work together with the aim of growing the firm within South East Asia through a mix of acquisitions, as well as enhancements to the existing business lines. As a long-time vendor of ICONZ Webvisions, we have seen first-hand the strength of the customer value proposition through this synergistic relationship with potential for growth."
About ICONZ Webvisions
ICONZ Webvisions has evolved over the last 20 years from a small email and hosting company into a full-pledged cloud service provider providing IaaS (infrastructure as a Service), managed and professional services to government agencies and large Enterprises, Small Medium Enterprises and Application Service Provider. With the recent introduction of our own cloud platform, Iconz-Webvisions is well poised to capitalize on the growth potential of the cloud business in South-East Asia.
About Racks Central
Racks Central was founded in 2013 by a group of data centre veterans. Through a private investor, they acquired a European data centre, revamped the data halls and expanded the facility. The new wing of the data centre became operational in 2015. The European MNC outsourced their DC needs to Racks Central to become a customer of RC. RC is a carrier neutral colocation service provider. They complement the established players such as Equinix, Global Switch and Digital Realty. Racks Central works mostly with service providers to meet their data centre needs. At the same time, they created an ecosystem to offer total IT solutions to customers.