ITCS Group secures investment from Dymon Asia Private Equity

HONG KONG, 8 FEBRUARY 2022: The ITCS Group announced today that it has secured a strategic growth investment from Dymon Asia Private Equity (“DAPE”), the private equity arm of Dymon Asia Capital, a leading Asia-focused alternative investment management firm based in Singapore. Partnering with DAPE will enable ITCS to rapidly accelerate its growth to scale up the tech industry in Asia-Pacific over the next 2 to 3 years. DAPE manages more than US$500million across its private equity strategy and this investment further demonstrates its ambitions to back home-grown Asian companies in the technology services space to rival big-tech companies across the globe.

Established in 2007, ITCS has executed digital transformation projects and managed IT solutions for global Fortune 500 clients including top-tier banks in Asia, Europe and the US including 4 of the top 10 investment banking groups globally. Since starting out as a tech-focused talent acquisition company in Hong Kong, ITCS has grown its operations across diverse service offerings from IT Managed Services to Infrastructure Virtualization, Cloud Office Solutions, and IT Consulting, Support and Regulatory Advisory Services, on the back of a successful track record, supported by its technology partners AWS, Microsoft, Cisco, and Duo.

At present, ITCS has a presence across seven global and regional markets, and is set to expand its footprint further into emerging markets in APAC and the wider North America to support its key clients. By 2023, the company targets achieving US$100mn in gross revenue from its Managed Services portfolio alone.

Last year, the group also launched their very first Enterprise-IT-as-a-Service product AnyWare, an all-inclusive Cloud Office Solution built to support small, medium enterprises to large corporations. AnyWare is a complete cloud office solution that streamlines an organization’s cloud technology and business needs and optimizes workforce productivity. Enhanced with a fully integrated premium security system, a full suite of supported third-party cloud and collaborative productivity tools, and robust infrastructure that comprises of cloud migration solutions, data configuration, and VDI implementation, AnyWare embraces the new ‘work from anywhere’ hybrid workforce approach enabling efficiencies without geographical constraints.

In addition to growing its AnyWare product globally through ITCS’ partnerships, the group is also focused on enabling growth through its flagship IT training and coaching program The Olympian Academy, that equips Return to Work (RTW), Diversity and Inclusion (D&I), and the next generation of talents with the right technology skills, tools and experience needed to succeed in the workplace. The Olympian Academy, developed by the group, has been set into motion to train its teams and candidates in commercial IT skills allowing them to obtain accredited certifications from Amazon Web Services and Microsoft.

“Having built a successful business on the back of unparalleled expertise and experience in a competitive market where few firms of our size operate, we are enormously excited to partner with DAPE to progress towards the next milestone of expansion for ITCS. The Group is now at the cusp of exponential growth, and we see a great opportunity to capitalize on the momentum we have created and propelling the industry forward by joining forces with a larger, more global strategic partner as we kickstart the year. We are eager to deliver on our goal to provide resilient enterprise technology solutions that allow both SMEs and global multinationals, to stop worrying about their tech infrastructure and focus on the things that matter – business capabilities and productivity,” said Daniel Kolbe, Founder & Group Chief Executive Officer of the ITCS Group.

Commenting on the partnership, Gerald Chiu, Partner at Dymon Asia Private Equity said, “Over the years, ITCS has evolved into a Market Disrupter in the IT solutions space and delivered complex IT solutions backed by continued innovation in a competitive market landscape dominated by major global IT firms. We are excited about our partnership with ITCS and looking forward to working with the management to scale greater heights together and support their growth into the next phase of their expansion journey.”

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ITCS is a global IT service provider and virtualization expert which solves problems “anywhere & anytime”. A pioneer of virtualization in the financial services field, ITCS recently partnered with AWS to create the Cloud Office solution: AnyWare which builds upon the company’s 15 years of experience to create a scalable, cost-effective SAAS offering for small businesses and large enterprises alike. With clients including global banks and Fortune 500 companies, ITCS builds and maintains efficient, secure and sustainable cloud infrastructure solutions, alongside providing strategic consultation and resourcing services for operations of all sizes and industry. Our offices are strategically located in key business hubs including Hong Kong, Japan and Singapore, with satellite operations in Australia, China, India and the United States.

www.itcs-group.com

www.anywarecloud.com

Dymon Asia Private Equity (“DAPE”) is focused on making private equity investments in Southeast Asia. Dymon Asia Private Equity (S.E. Asia) Fund II achieved a final close of US$450mn in commitments in April 2018. DAPE invests in companies in the lower mid-market space, or Small and Medium Enterprises (SME), in Southeast Asia. Investments are tailored to the needs of the companies with a strong focus on meeting long-term objectives. DAPE is managed by Southeast Asian professionals with a multi-year track record of making successful investments. DAPE is the Private Equity arm of Dymon Asia Capital.

www.dymonasiaprivateequity.com

For media enquiries, please contact:

Connie Hui | Head of Marketing | ITCS Group
connie.hui@itcs-group.com
+852 3906 5918

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