DeClout sells subsidiary for $75 million, beefs up war chest and readies for ‘winter’

Vesmond Wong, chairman and group CEO of IT company DeClout, seems to have a fondness for Game of Thrones themes. When he spun off Procurri, which trades data centre equipment, in July, the IPO project was codenamed “Iron Throne”, after the throne that the claimants in the wildly popular fantasy TV series fight over. “Iron” in IT parlance refers to the racks of servers found in data centres, while “Throne” represents Procurri’s ambition to lead in this field.

DeClout has found another motif from Game of Thrones. In a nod to the tough conditions in the current economic slowdown, Wong draws from the motto of House Stark, one of the major factions in the series — “Winter is coming,” he says.

But Wong is prepared. On Oct 12, the company announced the sale of 72.09%-owned Acclivis Technologies and Solutions to CITIC Telecom International Holdings for up to $75 million, subject to pre-agreed performance- pegged variations.

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