I Squared Capital acquires, merges two Singapore cloud migration services firms

I Squared Capital, through its ISQ Global Infrastructure Fund II, has acquired and combined two Singapore-based cloud migration services companies InfoFabrica and Cloud Kinetics.

The management team members (from left): Tameem Ebrahim, Ted Aravinthan, Haji Munshi, Abu Bakar Mohd Nor, Wen Chi Li, Luiz Povoas / Photo credit: I Squared Capital

I Squared Capital is a global infrastructure investment management firm focusing on energy, utilities, digital infrastructure, transport, and social infrastructure in the US, Europe, and Asia.

With the acquisition, the combined entity will be able to provide cloud migration and management services to a wider Southeast Asian and Indian audience.

According to the company, the acquisition and merger are part of its new Asian Digital Infrastructure platform and will enable its digital infrastructure companies to offer more comprehensive solutions to its clients.

The new cloud platform will have a team of over 300 professionals with expertise in cloud infrastructure, data, analytics, application modernization, and cloud management, the company said in a statement.

“The future of data and computing will be driven by the corporate adoption of hybrid cloud solutions through an orchestrated mix of on-premises infrastructure, co-location, and cloud services,” said Gautam Bhandari, managing partner at I Squared Capital. “With these acquisitions, our global investments and commitments to the digital infrastructure sector are over US$2.6 billion and growing.”

The cloud computing market revenue in Southeast Asia is expected to reach US$40.3 billion by 2025, according to a report.

Additionally, the demand for the technical capability to migrate to the cloud has exceeded supply in Asia Pacific so far, especially after the experience of the Covid-19 pandemic, shared Haji Munshi, group CEO of InfoFabrica and Cloud Kinetics.

“Whether businesses are developing and testing their new applications, scaling their online ecommerce offerings, or running their core business workloads, this is possible only because of the stable, scalable solutions offered by the public Cloud,” he said.