SAFARICOM IN DEAL TO ACQUIRE PACKET STREAM DATA NETWORKS



Safaricom has today signed a Share Purchase Agreement to acquire ownership of Packet Stream Data Networks Limited. The completion of the agreement is subject to the company receiving formal approval from both the Communications Commission of Kenya and the Monopolies Commission.



Incorporated in 2003,Packet Stream Data Networks Limited is a wholly-owned Kenyan company licensed to provide various data communication services including fixed WiMAX access services.



This acquisition is very strategic to Safaricom as it will serve to widen our already growing Wimax footprint and enable us achieve our goal of providing our customers with a ubiquitous data network over a multiplicity of technology platforms.



The acquisition is key to the growth of Safaricom’s corporate clientele which demands a robust and reliable 24 x 7 fixed broadband service.



The move to acquire Packet Stream has in large part been facilitated by the positive changes to the regulatory environment which now allow Safaricom to enjoy the benefits of its newly acquired Unified License.



Packet Stream has already deployed its WiMAX resources in various towns around the country and Safaricom will be in pole position to build on the already established infrastructure.



The intended acquisition comes on the back of Safaricom’s recent appointment of Jamii Telecommunications Limited as its preferred partner in the rollout of it optical fibre network. The Packet Stream deal will be a natural compliment to our relationship with Jamii as it will allow us to now offer a hybrid of last mile connectivity solutions tailored to the needs of our customers. We are the only telecommunications company in Kenya which can today offer broadband services on 3G,WiMAX and fibre.



Last year,Safaricom acquired a controlling stake in fixed broadband provider One Communications Limited and has since moved to consolidate its presence in the data market by acquiring an anchor 22.5 per cent stake in the TEAMS submarine optical fibre cable,besides buying significant capacity on Seacom,the other undersea cable venture.




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