Xchanging Forms JV with YTL Communications in Malaysia
Xchanging (LSE:XCH), the business process and technology services provider and integrator and YTL Communications, a subsidiary of YTL Power International Berhad listed on Bursa Malaysia, announce the signing of an agreement for the establishment of Xchanging Malaysia Sdn Bhd, a 50-50 joint venture to develop and deliver enhanced mobile internet and cloud-based hosting offerings in Malaysia. The joint venture will combine Xchanging’s technology, delivery expertise and international domain knowledge with YTL Communications’ award winning 4G network and market reach to deliver next-generation, mission-critical cloud solutions and platforms.
“Establishing the Xchanging-YTL joint venture is an important step in enhancing our presence in South East Asia and in the mobile internet market,” said Ken Lever, Xchanging’s Chief Executive. “Because YTL Communications has the fastest wireless network in Malaysia, the technical innovations we co-develop and implement have the potential to be game-changers for our customers.”
YTL Communications Chief Executive Wing K. Lee said, “Xchanging brings to this venture a wealth of systems integration experience and best practices. We are excited to join forces in bringing relevant and impactful cloud based solutions throughout Malaysia using our advanced nationwide 4G network. We firmly believe in the transformative power of mobile Internet and this is yet another tangible commitment we are making to provide a level playing field for businesses and verticals to compete locally and globally.”