ASX-listed KAZ Computer Services has spent just under a million dollars purchasing the remaining 50 per cent of a joint venture it operated with systems integrator and IT distributor Vanda Systems in Singapore.
The joint venture, named KAZ Computer Services (SEA), provides similar IT services to the Singapore region as what KAZ provides in Australia.
The two parties have agreed to pull the plug on the joint-ownership deal, with KAZ managing director Peter Kazacos citing his company's wish to go out on its own as a tier-one outsourcing service provider in the Asia-Pacific region.
"With respect to our expansion plans, I think it would be easier for us to do that alone than under the joint venture arrangement," he told ARN. "It allows us to control our own agendas - such as when to invest capital and when not to."
According to Kazacos, Vanda Systems seeks to focus on its core competency of systems integration and IT distribution in Asia, particularly looking at new opportunities in China. Azure Technologies, the wholly owned distribution subsidiary of Vanda Systems, will continue to supply KAZ with IBM products in Asia. Kazacos suggests the two companies will also continue to share sales leads.