American Premium Water Corp Acquires CloudXchange DataCentre Inc.
April 24, 2022
American Premium Water Corporation (APW) agreed to acquire 100% of CloudXchange DataCentre Inc. for US$45.6 million in restricted common shares issued to the seller, Mr. Chan Heng Fai (Ambrose). The seller guaranteed at least US$1.5 million of EBITDA for CloudX SG in the first 12 months; APW plans to pivot its business toward crypto-mining and rebrand to American Premium Mining Corporation.
- Buyers
- American Premium Water Corporation
- Targets
- CloudXchange DataCentre Inc.
- Sellers
- Chan Heng Fai, Ambrose
- Industry
- IT Services
- Location
- Singapore
- Transaction Type
- Buyout
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