ITOCHU Techno-Solutions Corporation (Satoshi Kikuchi, President & CEO; headquartered in Chiyoda-ku, Tokyo; hereinafter “CTC”) will acquire all shares of Netband Consulting Co., Ltd. (Sompong Dechagorn, Managing Director; headquartered in Bangkok, Thailand; hereinafter "Netband"), which is currently a joint venture in which CTC holds 45% of the shares, for the purpose of further strengthening CTC’s businesses in Thailand and other Southeast Asian countries. CTC will purchase 55% of Netband’s share held by Vnet Capital Co., Ltd. (Sopon Punyaratabandhu, President) in November.
CTC acquired its 45% stake in Netband in July 2012 and has been providing local and Japan-based companies in wide-ranging industries with IT services based on product sales.
In particular, CTC has been focusing on expanding its application development and system integration service businesses for Japanese companies operating in Thailand in recent years, and now the prospects of business expansion with ITOCHU Corporation’s local strategic partners and ITOCHU Group companies are positive, CTC has decided to acquire Netband as a subsidiary. CTC expects to obtain a certificate of foreign investment promotion issued by the Board of Investment of Thailand ("BOI").
The CTC Group aims to increase the ratio of its overseas sales to 10% and will invest in expansion in the application development and system integration service industries. It will actively promote businesses for the Group companies in Japan, Malaysia, Singapore, Indonesia, and Thailand to cooperate with one another, cover all of Southeast Asia with the CTC brand, and provide local and Japan-based customers with optimal IT services.
Thai Subsidiary's Overview（After completion of the acquisition）
|Name (Plan)||CTC Global (Thailand) Ltd.|
|Head Office||159/22 Serm-Mit Tower, Unite 1404 14th Fl. Sukhumvit 21 Rd.
North Klongtoey Wattana, Bangkok, Thailand
|Representative||Sompong Dechagorn (Managing Director)|
|Investment Ratio||CTC 100%|
|Business Lines||Sales, installation and implementation of IT systems and networks and application development.|
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