Djarum Group Completes $34 Million Acquisition of Internet Provider DATA

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JAKARTA, investortrust.id – Indonesia’s conglomerate Djarum Group has finalized the acquisition of a significant stake in local internet provider PT Remala Abadi Tbk, in a move aimed at expanding its telecommunications infrastructure business and targeting underserved consumers.

The acquisition was made through PT Iforte Solusi Infotek, a subsidiary of PT Sarana Menara Nusantara Tbk (TOWR), which is under the control of Djarum Group. Iforte secured 40% ownership in Remala Abadi for Rp 550 billion, or approximately $34 million.

According to an official filing to the Indonesia Stock Exchange on Wednesday, April 30, 2025, signed by Iforte directors Handoko Siputro and Hartono Tanuwidjaja, the deal is part of a broader strategy to develop and consolidate digital infrastructure across the country.

“As the new controlling shareholder of Remala Abadi, the company will initiate a mandatory tender offer in compliance with the Financial Services Authority Regulation No. 9/2018,” the filing stated.

Executive Shake-Up and Financial Snapshot

Following the acquisition, Remala Abadi announced the resignations of Samuel Adi Mulia as Director and Richard Kartawijaya as President Commissioner.

Financially, the company has shown mixed performance. Net profit declined 6.8% to Rp 14.04 billion in the first quarter of 2025 from Rp 15.07 billion a year earlier, even as revenue rose 10.9% to Rp 86.39 billion from Rp 78.33 billion.

Gross profit increased, but income before tax dipped to Rp 18.79 billion from Rp 19.85 billion, while earnings attributable to parent shareholders fell to Rp 13.70 billion.

Strategic Pivot to Retail Internet

Iforte management has indicated that following the acquisition, Remala Abadi will pivot its business model from enterprise services to retail broadband offerings. The flagship product, NetHome.id, is designed for middle-to-lower income households that currently lack access to reliable internet. The service offers speeds up to 100 Mbps starting at Rp 200,000 per month.

Remala Abadi plans to deploy a cost-efficient “home connect” model, directly building network connections to individual homes. It also offers a free first month to encourage trial among new users. The company believes that with a differentiated technology platform, it can compete on both quality and speed.

To reach remote areas where fiber networks are not viable, Remala Abadi plans to partner with local providers. This strategy aligns with the Indonesian government’s broader goal to extend internet coverage to more than 80% of the population.