DoCoMo's subsidiary interTouch to acquire MagiNet

December 21, 2007

1 Min Read

TOKYO -- NTT DoCoMo, Inc. announced today that interTouch Pte. Ltd. (interTouch), its wholly-owned subsidiary, has agreed with the primary shareholder of MagiNet Pte. Ltd. (MagiNet) to fully acquire MagiNet for approximately US$150 million. Both companies are Singapore-based providers of high-speed wired/wireless broadband connectivity services and applications primarily to hotels, management companies and travelers worldwide. DoCoMo will provide additional funding of up to US$191 million to interTouch, which includes funds to be allocated to service debt and to facilitate its integration with MagiNet.

With this acquisition, interTouch's reach will expand to 950 hotels in 63 countries, making it a top class high-speed Internet access service provider in the hospitality industry within the Asia-Pacific region. The acquisition will simultaneously enhance DoCoMo's continuing efforts to create a "ubiquitous and seamless environment" on a global scale.


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