|By Marketwired .||
|April 1, 2014 05:00 AM EDT||
HONG KONG, CHINA -- (Marketwired) -- 04/01/14 -- DVN (Holdings) Limited ("DVN") -- stock code: 00500 HK -- is pleased to announce that its wholly owned subsidiary, Frontier Services Limited, has concluded an agreement to acquire Phoenix Aviation Limited ("Phoenix"), a company incorporated in Kenya, for total consideration of US$14 million.
This landmark transaction for DVN was the subject of a formal Stock Exchange of Hong Kong announcement yesterday. Through the transaction, Phoenix will become a subsidiary of DVN.
The acquisition of Phoenix and its aviation assets accelerates DVN's objective to become the premier pan-African secure logistics and transportation provider to multinational and local corporations active in exploration and mineral resources operations, as well as to governmental and non-governmental organizations.
Phoenix has operated throughout Africa from its operational headquarters at Wilson Airport in Nairobi Kenya since 1994. The company's principal business activities include (i) regional cargo and passenger movements, (ii) repair and maintenance of its own and third-party aircraft throughout East Africa, (iii) search and rescue operations, (iv) the provision of worldwide air ambulance services, (v) transport of government and prominent private sector individuals. Phoenix is fully licensed and authorized to carry out these activities and has done so successfully over two decades.
Mr. Gregg Smith, Chief Executive Officer of DVN, expressed his gratification regarding the acquisition: "We believe Phoenix is the best there is in Africa in its sector of aviation. The founders of Phoenix are some of the pioneers of the legendary Kenyan aviation sector. By selling the business to us they are trusting that we will take it into our family of companies, where we will work with their very experienced and talented operating team, to expand the fleet and its maintenance operations. We are delighted to extend our presence within the Kenyan aviation and business communities. With Phoenix, a solid foundation is now laid for our ongoing expansion as a logistics, transportation, and risk management services provider with continent-wide reach."
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
Aug. 25, 2016 12:45 PM EDT Reads: 550
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Aug. 25, 2016 12:45 PM EDT Reads: 510
Aug. 25, 2016 12:15 PM EDT Reads: 3,374
Aug. 25, 2016 11:00 AM EDT Reads: 507
Aug. 25, 2016 11:00 AM EDT Reads: 1,819
Aug. 25, 2016 10:30 AM EDT Reads: 471
Aug. 25, 2016 09:15 AM EDT Reads: 576
Aug. 25, 2016 09:00 AM EDT Reads: 3,867
Aug. 25, 2016 09:00 AM EDT Reads: 483
Aug. 25, 2016 09:00 AM EDT Reads: 551
Aug. 25, 2016 08:45 AM EDT Reads: 2,106
Aug. 25, 2016 08:30 AM EDT Reads: 1,722
Aug. 25, 2016 08:30 AM EDT Reads: 419
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Aug. 25, 2016 08:15 AM EDT Reads: 1,500
Enterprises have forever faced challenges surrounding the sharing of their intellectual property. Emerging cloud adoption has made it more compelling for enterprises to digitize their content, making them available over a wide variety of devices across the Internet. In his session at 19th Cloud Expo, Santosh Ahuja, Director of Architecture at Impiger Technologies, will introduce various mechanisms provided by cloud service providers today to manage and share digital content in a secure manner....
Aug. 25, 2016 08:00 AM EDT Reads: 530