TIME dotCom buys 60% stake of AVM Cloud for RM58.7mil

“TIME is excited to grow cloud computing as the next pillar of our business. We believe we’ve found the right partners in AVM, considering their comprehensive product suite and customer base, ” said TIME’s commander-in-chief Afzal Abdul Rahim.

KUALA LUMPUR: TIME dotCom is accelerating its cloud computing business with the acquisition of a 60% stake in AVM Cloud Sdn Bhd for RM58.7mil cash which will enable it to provide a full spectrum of product offerings for its enterprise customers across the region.

“This acquisition signals TIME’s efforts in accelerating the growth of cloud computing as the newest pillar of its business, alongside fixed line services, global network connectivity and data centres, ” it said in a statement.