Taiwan market: Vee TIME to acquire WiMAX competitor Tatung InfoComm
Chloe Yu, Taipei; Adam Hwang, DIGITIMES [Monday 26 March 2012]
Vee TIME, a WiMAX operator in southern Taiwan, has revealed that it will fully acquire competitor Tatung InfoComm for NT$150 million (US$5.08 million).
Vee TIME in February 2012 acquired a 72.43% stake in Vmax Telecom, a WiMAX operator in northern Taiwan for NT$391 million. Tatung InfoComm and Vmax will maintain independent operations initially but will be substantially combined with Vee TIME's eventually, the company said.
In order to meet the National Communications Commission-set schedule, Vee TIME will undertake infrastructure deployment to reach 70% coverage of Tatung InfoComm's service area in first-quarter 2013 and Vmax's service area in first-quarter 2014, Vee TIME indicated.