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[FET] Far EasTone takes 70% stake in Nextlink

Post Date 2018.11.08From:Rodney Chan, DIGITIMES, Taipei

Far EasTone (FET), a Taiwan-based provider of telecommunications and digital services, has disclosed it has taken a 70% stake in cloud managed service provider Nextlink Technology.

The Taiwan-based Nextlink is a Premier Consulting Partner for Amazon Web Services (AWS) for the Greater China region, providing cloud managed services and IT total solutions.

In a filing with the Taiwan Stock Exchange (TWSE), FET stated it paid NT$420 million (US$13.66 million) to acquire 3.43 million shares of the privately-held Nextlink, representing 70% of Nextlink's shares.

FET indicated in the filing it is looking to expand its role in the cloud service market. At its annual shareholders' meeting in June this year, the company stated it plans to continue to expand and strengthen relevant applications for IoT, big data, cloud, information security and artificial intelligence (AI), in order to provide its customers with a comprehensive digital lifestyle.

Nextlink targets and supports all of these applications with its cloud services. The company is one of the few AWS Premier Consulting Parners in the Greater China region and was the first Premier Consulting Partner to acquire AWS Managed Service Partner (MSP) Certification.

According to market research firm Gartner, the worldwide public cloud services market is projected to grow 21% to reach US$175.8 billion in 2018, up from US$145.3 billion in 2017. In 2019 the market is forecast to grow another 17.3% to total US$206.2 billion.

The fastest-growing segment of the market is cloud system infrastructure services (infrastructure as a service or IaaS), which is forecast to grow 27.6% in 2019 to reach US$39.5 billion, up from US$31 billion in 2018.