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HKBN acquires cloud solutions company I Consulting for HK$200M

HKBN Group Ltd. has acquired Hong Kong-headquartered I Consulting Group, a managed service provider for cloud solutions, for a total consideration of up to HK$200 million.

Following the deal, ICG Chairman Andy Lau will retain his position, while Eric Leung will become ICG's CEO and will lead the company's integration into HKBN, according to a news release.

The combination provides HKBN with the capacity to offer services related to system integration and network infrastructure. Meanwhile, HKBN will also extend backing to ICG for the latter to become a reseller and a managed service provider of cloud offerings from Amazon.com Inc., VMware Inc., Microsoft Corp. and Alibaba Group Holding Ltd.

"ICG will focus on providing its cloud adoption advisory services and various solutions especially security to the [financial services industry] as well as to HKBN's over 55,000 existing corporate customers," ICG Chairman Andy Lau said in a statement.