New firm buys out M-Web assets

New firm buys out M-Web assets

JAKARTA: PT Indonesia Media Technologies (IMT), a newly-formed
media technology company, has acquired Astaga.com, Kafegaul.com,
satunet.com and other key assets owned by PT M-Web Indonesia,
which has decided to pull out of Indonesia.

IMT was formed by a group of local and foreign technology
investors and entrepreneurs to capitalize on the business built
up by M-Web over the last three years, IMT said in a statement on
Tuesday.

With the acquisition, IMT said it will be the new owner of the
three websites and shall continue providing mobile- and media-
related services.

South Africa-based M-Web, which until last year was the
country's largest Internet firm, has sold all its assets in
Indonesia on sagging confidence in the prospects for Indonesia's
internet industry.

"IMT is poised to capitalize on the growing media technology
and mobile service market," company president and CEO David Burke
said. -- JP