Business Services Industry

AUSTRALIA'S HYRO ACQUIRES 51 PCT STAKE IN THAI IT CONSULTING CO.

AsiaPulse News, July, 2003

BANGKOK, July 18 Asia Pulse - Hyro Ltd (ASX:HYO), an Australian digital marketing and technology services company, has acquired a 51 per cent stake in Thai IT consulting firm Cyberworks Consulting, as part of its key regional development strategy.

The deal to lift Hyro's stake comes five months after the company, then known as BMCMedia Ltd, acquired a strategic 26 per cent holding in Bangkok-based Cyberworks, a provider of software and internet solutions.

Cyberworks founder Anthony McDonald told AAP that Hyro's strategy to invest in Thailand was part of the Australian company's plans to offer solutions on a regional basis, as well as a result of the country's lower cost of operations.

He said India, China, Indonesia, and the Philippines had been...

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