Singapore, Dec 13 (Asia Pulse) - Webvisions Pte Ltd, Singapore's largest independent web hosting company, Sunday announced that Walden International Investment Group has made an investment of S$4 million for a strategic stake in Webvisions.
This additional capital will be used to fund Webvisions' regional expansion and contribute toward the building of a chain of Internet Data Centers throughout the Asia-Pacific region. The first, in Singapore, is scheduled to be fully operational by January 2000.
Walden International Investment Group (WIIG), an international venture capital firm, targets investments in high growth industries including Internet, communications, software and computer products. "Predicted to grow at 56% CAGR, the number of Asia-Pacific Internet users will likely reach 202 million by 2003.
This expected rapid adoption of the Internet in the region will generate explosive growth figures for web hosting infrastructure services," said C.C. Tang, Managing Director of the WIIG. "With a customer base already exceeding 3,000, Webvisions is well-positioned to capture a sizeable share of this new market for Internet hosting services. We look forward to assisting Webvisions in its regional expansion." "Walden's investment is timely," said Chief Executive Officer of Webvisions, Roger Lim.
"Our growth rate has been exponential, as we have seen a fourfold increase in revenues in the last year alone. Walden's financial injection will allow us consolidate our market position and move decisively into the rest of Asia."
The new Data Center in Singapore will be one of the first independent, dedicated hosting facilities in the Asia-Pacific region. It will augment Webvisions' current range of Internet services, which cater to mission-critical Internet businesses including Internet portals, corporate extranets, and web and ASP applications. Webvisions' customer base currently includes regional search engine CATCHA.COM, Microsoft Singapore Pte Ltd, Miller Freeman Pte Ltd, Nikon Singapore Pte Ltd and Shaw Renters Pte Ltd.