Telkom to invest US$200 million in Silicon Valley

Telkom to invest US$200 million in Silicon Valley

PT Telkom president, Arief Yahya. (ANTARA)

Bandung, W Java (ANTARA News) - State telecommunications company PT Telkom said it will invest US$200 million in venture capital business in the Silicon Valley in the United States.

Telkom would team up with a number of venture capital companies to tap the highly profitable digital creative industry in Silicon Valley, its president Arief Yahya said here on Wednesday.

Telkom will expand business entering the business area of a number of world class companies operating in digital creative industry, Arief added.

He said digital creative companies in Silicon Valley have large business value exceeding the business value of Telkom.

He said digital creative industry in the Silicon Valley accounts for 21 percent of the US GDP.

Google, and Facebook are among digital creative companies based in the Silicon Valley, he said.

With the investment of US$200 million in venture capital, Telkom hope to gain from the highly potential business, he said.

Telkom would enter the Silicon Valley through Telkom Metra , a subsidiary operating in the portfolio of information-media-edutainment.

Telkom Matra will team up with technology companies such as Fenox Venture, which has many start-up like SiceCar, Lark, META, ShareThis, 99co, and TechInAsia.

The investment is expected to help meet the target of Telkom that international business operation would contribute 10 percent to its income in 2015, Arief said.