Abraaj exits Thai tech company

Abraaj has made its third Thailand exit in six months, selling a Bangkok-based designer of data centers to Japan’s NTT.

The Abraaj Group has exited Thailand-based Unitrio Technology in a trade sale to Japan’s NTT Facilities, part of the Nippon Telegraph and Telephone Corporation (NTT), according to a statement from the firm.

Financial details were not disclosed. 

Unitrio, originally a distributor of data center and telecommunications equipment, was acquired in 2010 by emerging markets firm Aureos Capital. Abraaj acquired Aureos in 2012.

According to the statement, Abraaj’s investment in Unitrio “helped facilitate the transformation of the company into a turnkey designer and builder of data center facilities”.

“Our investment in Unitro was well timed as we capitalised on rapid growth in the domestic ICT market,” Srisant Chitvaranund, managing director of Abraaj, said in the statement.

The firm has had two other Thai exits recently. In January, Abraaj exited its investment in Vejthani, a Bangkok-based hospital group, in a trade sale to Southeast Asian healthcare chain KPJ Healthcare.

In December, Abraaj exited Thai restaurant chain Hot Pot through an IPO on the Thai stock exchange. Media reports said the transaction was worth close to $10 million, Private Equity International reported earlier.