Telkom enterprise and business service director Dian Rachmawan, Telkom Metra president director Otong Iip, Danar Dana Swadharma Foundation (YDDS) chairman Tri Mulyo, Tri Handayani Utama president director Edi Siswanto, and Swadharma Cooperative Board chairman Andri Widoyono, pose for a photo after signing the purchase agreement in Jakarta on Monday (02/04). (Photo courtesy of Telkom Metra)

Telkom Metra Acquires 51% Stake in Swadharma Sarana Informatika

APRIL 05, 2018

Jakarta. Multimedia Nusantara, better known as Telkom Metra, a subsidiary of state-owned telecommunications operator Telkom Indonesia, has acquired a 51 percent stake in financial services company Swadharma Sarana Informatika.

The deal was signed by Telkom Metra president director Otong Iip and the top executives of Tri Handayani Utama, Swadharma Sarana Informatika (SSI), the Danar Dana Swadharma Foundation (YDDS) and the Swadharma Cooperative Board and witnessed by Telkom's director of enterprise and business services, Dian Rachmawan, in Jakarta on Monday (02/04).

Dian said the acquisition was in line with Telkom Metra's vision of becoming a leader in the information, media and edutainment industry (IME) in the region.

"The takeover of a majority of SSI's shares represents Telkom Metra's strategic move to build a strong IME business ecosystem," he said.

"This acquisition is expected to provide added value to Telkom Metra and maximize synergy value through optimization of the Telkom Group's ecosystem and increase the potential of external market opportunities," Dian added.

He said this strategic move is part of the Telkom Group's efforts to complement the ecosystem and competence in the field of end-to-end ICT solutions for the banking and insurance financial sector.

"We believe this corporate action can accelerate the Telkom Group's transformation into one of the best digital telecommunication companies," Dian said.

Telkom Metra is now the majority shareholder in SSI, while YDDS holds 25 percent, Tri Handayani Utama 14.2 percent and the Swadharma Cooperative 9.8 percent of the shares.

With the acquisition, Telkom Metra hopes to optimize SSI, which has the capabilities, products and solutions to support the financial affairs of state-owned banks and other national banks to further optimize their services.