The leading investor in growth markets, the Abraaj Group, has announced today its exit from Unitrio Technology Ltd of Thailand. The private equity firm sold its shareholdings to NTT Facilities, a subsidiary of the Nippon Telegraph and Telephone Corporation.
Abraaj funded the initial investment in Unitrio through its South East Asia Fund back in 2010. The investment was based on the increasing demand in Thailand for quality data centers because of the rapid growth of Internet penetration rates, the growth of mobile and other Internaet able devices and other technological developments.
Unitrio was established in 1980 and was a distributor in UPS systems and its eventual growth into a distributor of data center and other telecommunication equipment. With the Abraaj investment the firm, the company has become a turnkey designer as well as builder of data center facilities.
In a statement on its exit, Srisant Chitvaranund, Managing Director, The Abraaj Group, said: "Our investment in Unitro was well timed as we capitalized on rapid growth in the domestic ICT market. In Unitrio, we were able to find the right partners who had a vision for their company and we helped them execute an extremely successful strategy and business plan. We believe that NTTF, given their strategic interests in the sector, is the right partner for Unitrio going forward and will enable the company to achieve their next level of growth".
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