Telkom Digs for Acquisition of Gaming, E-Commerce, and Big Data Startups
Through its subsidiary Metranet, Telkom attempts to take major shares in three business categories
Corry Anestia - 27 September 2018
PT Multimedia Nusantara or Metranet, Telkom's subsidiary, intends to place an investment through major shares acquisition of startups engaged in gaming, e-commerce, and big data. The company is currently amidst the exploration stage in those three businesses.
Widi Nugroho, Metranet's CEO, said those three are local and global companies but refuse to give further details.
"Yes, [we are to acquire] major shares in Startups [gaming, e-commerce, and big data]. Startups [to acquire] have shown a good financial performance in the past three years. Currently on progress [due diligence]," he told DailySocial in a short message.
Telkom already has Blanja.com in its e-commerce line as a joint venture with eBay. Still, he admitted this acquisition will extend Blanja.com position in Indonesia's e-commerce industry.
"There are many E-commerce business models, such as Business-to-Consumer (B2C), Business-to-Business (B2B), and Business-to-Government (B2G). It can be a marketplace, vertical commerce, online store. In various forms, including back-end, platform, and so on. The ones we'll purchase are to support Blanja.com," he explained.
Chiefly, Metranet has finalized its first acquisition last August by taking over 30.4 percent shares in Cellum Global Zrt, a Hungary-based fintech company. Quoted from BeritaSatu, Telkom pours $6 million funding (around IDR 90 billion) in two stage of equity participation.
Metranet is currently focused on digital content business (gaming, music, and video), advertising, smart platform, and financial service (fintech). It goes along with Telkom's commitment to dominate the digital business industry in Indonesia and Southeast Asia, in addition to connectivity business.
– Original article is in Indonesian, translated by Kristin Siagian