Park Place Technologies Acquires Axentel Technologies

CLEVELAND, OH, February 20, 2018 – Park Place Technologies^® announced today that it has completed an acquisition of Axentel Technologies’ businesses in Singapore, Malaysia, Hong Kong and the Philippines. Park Place Technologies has also signed an agreement to complete the acquisition of the Axentel Technologies Thailand business in the second quarter of 2018. Axentel Technologies is a Singapore-based, premier provider of IT lifecycle solutions with service offerings throughout Southeast Asia. With a desire to continue its growth momentum, the acquisition of Axentel Technologies follows Park Place Technologies’ six acquisitions announced over the past 18 months.

The Axentel Technologies acquisition allows Park Place Technologies to significantly enhance its ability to service customers in Singapore, Malaysia, Hong Kong, Thailand, Cambodia, the Philippines and throughout Southeast Asia.

“Axentel Technologies is a proven leader with a strong expertise in legacy systems, a wealth of capitalized knowledge, and proven processes in IT maintenance and sourcing,” said Ed Kenty, Chairman and CEO of Park Place Technologies. “The company’s strong growth trajectory and unwavering commitment to reliability and quality align seamlessly with Park Place Technologies’ vision for our company.”

As the companies integrate operations, Park Place Technologies’ and Axentel Technologies’ global customer bases will immediately benefit from superior levels of service delivery, enhanced flexibility and value-driven maintenance solutions.

“Our objective is to be the premier and largest TPM in Asia. Combining Park Place’s existing APAC infrastructure with Axentel’s coverage in 28 countries worldwide reinforces that objective,” added Chris Adams, President and Chief Operating Officer, Park Place Technologies. “The company’s winning sales team, impressive array of customers and strong leadership team make them an ideal business partner. We are incredibly excited to join forces with Axentel Technologies to support our global customers with multi-platform, multi-generation network, server and storage equipment.”

Since 2005, Axentel Technologies has served as a successful leader in maintenance services providing more than 200 customers with unparalleled sourcing expertise. Specializing in legacy enterprise system support, Axentel Technologies has enabled its customers to extend the operational lifespan of IT assets and significantly optimize capital expenditures when there is an operational need to upgrade. Axentel Technologies has 28 service locations worldwide and has positioned itself at the forefront of the maintenance industry, enabling customers to save and reinvest capital reserved for IT back into their core business operations.

“For the past 12 years, Axentel Technologies has been proud to serve as a leading provider of maintenance services to customers across the globe,” said Jerry Yiu, former CEO, Axentel Technologies. “After more than a decade of service, we are joining forces with Park Place Technologies to offer our customers greater value by providing access to Park Place Technologies’ wide portfolio of services, which are complementary to the services we offer today.”

Yiu continued, “As a result, our customers, along with Park Place Technologies’ customers, will reap the benefits of cost savings, time efficiency, convenience and reliability, all of which are paramount to our long-standing commitment in serving customers worldwide. We look forward to joining Park Place Technologies as we continue to accelerate the growth of our business and provide new opportunities for our employees and customers.”

In November 2016, Park Place Technologies expanded its global footprint in Asia by opening an Asia-Pacific headquarters location in Singapore and a second location in Malaysia. This coupled with the acquisition of Axentel Technologies enables Park Place Technologies to continue to grow its existing data center services support offerings to customers throughout Asia.