Spike Networks and Pacific Century Cyberworks (PCCW) have completed their joint venture, announcing the first "Spike Cyberworks" office opening in Hong Kong.
The joint venture will provide a comprehensive range of Internet professional services throughout Hong Kong, Japan, and Australia, with an emphasis on digital strategy and development of e-business applications. Our goal is to become "the foremost provider of e-business in the Asian region, says PCCW group managing director Alex Arena.
The agreement also contemplates various strategic alliances between PCCW and Spike including the promotion of Spike radio over PCCW's broadband network Network of the World (NOW).
The agreement is, however, subject to certain conditions, including the approval of its shareholders. An extraordinary general meeting of Spike shareholders will be held on June 8, with explanatory materials expected to be distributed to shareholders on May 8.
Spike has distinguished itself as an early mover in the development of online informational and transactional services, and original entertainment content, while PCCW is poised to become a leading global provider of broadband Internet services. The coupling of these companies will combine Spike's existing Internet services activities with the resources and positioning of PCCW.