Image via WikipediaAcquisition paves the way for launch for expansion of Digital TV and HSIA services to the Asia and Middle East marketsAcentic, a leading supplier of digital interactive TV (iTV) systems for the hotel industry is pleased to announce the acquisition of the company by PhilWeb Corp. (WEB) and ISM Communications Corp. (ISM) which acquired a 65% stake in Acentic on January 11, 2010. The acquisition allows Acentic to further extend their digital TV and high speed internet access (HSIA) services throughout the European market and expand to the Asia-Pacific region, the fastest growing hotel market in the world.
The acquisition also strengthens the gaming offering Acentic will provide to its current and future hotel customers. WEB is one of the leading gaming and e-gaming technology companies in Asia.
"We are very excited about the entry of WEB and ISM in Acentic and about taking Acentic to the next level," said Alistair Forbes, CEO, Acentic. "Our digital TV and HSIA services are already in many of the world's leading hotel chains in Europe but as a perfect fit to the information technology business of ISM and the gaming expertise of WEB, we will be able to include Asia-Pacific in the list of growing regions that Acentic's in room hotel services are available in."
On December 24, 2009, WEB and ISM informed the Philippine Stock Exchange that through a jointly and equally owned Hong Kong special purpose vehicle entered into a binding agreement with Global Innovation Partners (GI Partners), a private equity firm based in the United Kingdom (UK), for the acquisition of a controlling 65% stake in Acentic. The remaining 35% of Acentic will continue to be owned by Niantic Holding GmbH, a German company controlled by Dr. Andreas Jacobs.
Forbes added: "Acentic's technology complements the information technology and telecommunications business of ISM as well as the gaming expertise of WEB. We're looking forward to the changes and growth this new dynamic brings to the Acentic family in 2010 and beyond. As a company that has always been dedicated to customer service and quality products, we remain dedicated to keeping our hotels happy and helping them deliver the best in room services possible to their guests.
"The substantial number of hotel rooms currently under contract to Acentic and the imminent roll out of Acentic Asia provides WEB with enormous opportunities to expand its gaming business, which is today limited only to the Philippine market, to many other major countries principally in Europe and the Middle East," said Dennis Valdez, President, PhilWeb (WEB). "WEB will have an instant platform of 200,000 rooms in Europe as a market for its internet gaming offerings. WEB's participation in the acquisition of Acentic will enable WEB to have a quantum increase in its business prospects worldwide and well beyond just the Philippine market."
According to Lodging Economics' latest Asia Pacific Pipeline Report, the Asia Pacific hotel pipeline is the second largest in the world and this region has two of the fastest growing economies in the world, China and India, with over 208,847 hotel rooms in the pipeline in China alone.
About Acentic
Acentic is an international provider of digital TV services to hotels. Acentic's digital content, technology, support and services deliver entertainment and revenue generation tools via the hotel television, providing a unique communications system that meets the evolving lifestyles of guests. Acentic's digital TV services are in many of the world's leading hotel chains including Accor, Dorint, Intercontinental Hotel Group, Hilton, Hyatt, Maritim, Marriott, Mövenpick and Starwood in more than 30 countries in Europe, Middle East and Africa. For more information, visit www.acentic.com.
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