GO plc today announced that its fully-owned subsidiary, GO Data Centre Services Limited, has entered into a preliminary agreement to purchase 51 per cent of the issued share capital of Kinetix IT Solutions Limited. The acquisition is subject to regulatory approval being obtained.

Kinetix specialises in the design, implementation, support and optimisation of ICT solutions for the corporate sector.  Its services include the management of customers’ entire IT infrastructures from servers and desktops to applications, data and networks. Kinetix also supports its customers throughout the IT investment lifecycle from initial strategy development and technology assessment, through to design, procurement and implementation.

GO Chairman, Deepak Padmanabhan, said, “This strategic investment by GO further enhances the Group’s ability to deliver a 360 degree communications and ICT service to our corporate clients. As Malta’s leading provider of mobile, internet, telephony, data networking solutions, business IP services, managed and co-location facilities, the addition of the specific services offered by Kinetix IT Solutions Limited create new synergies that should deliver greater value both to our corporate clients and to our shareholders.”

Kinetix IT Solutions Limited Chairman, Christian Sammut, said, “Becoming part of the GO Group will take Kinetix to the next level, enabling us to complement and further enhance the services and solutions which we currently offer to both existing and new customers including customers of GO’s data centre subsidiary BMIT. We are proud to have built a business with a great track record and look forward to the next chapter in our journey.”

Following the completion of the transaction, GO Data Centre Services Limited will hold a controlling interest in Kinetix IT Solutions Limited. The acquisition of shares in Kinetix IT Solutions Limited falls below the threshold of a Class 1 transaction as set out in the Listing Rules.