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HKBN to acquire IT solutions company JOS

HKBN Ltd., through a wholly owned unit, agreed to fully acquire system integrator and IT solutions provider Jardine OneSolution Holdings (CI) Ltd. from JTH (BVI) Ltd. for US$50 million in cash.

The acquisition also includes JOS subsidiaries Adura Hong Kong and Adura Cyber Security.

The Hong Kong-based telco said the deal will complement its system integration and connectivity offerings, and help expand its footprint in the enterprise solutions sector following its merger with WTT HK Ltd.

The transaction is expected to be completed in the fourth quarter, subject to HKBN shareholders' approval and other closing conditions.

JOS focuses on providing IT infrastructure and network services, as well as digital and security solutions.