IPVG expands IT business in Southeast Asia

IPVG Corp. announced the first phase of a major expansion of its IT business in the Southeast Asian region. 

This new initiative, Viri-diem, will provide information technology infrastructure and services to enterprises across Asia in the most ecologically sound way.

The company intends to lead the thinking and the deployment of energy-efficient computing resources. The very name Viridiem, which loosely translates to “Green Day” in Latin, highlights the company’s intent in this area.

In preparation for this, IPVG is moving its IT assets into Viridiem, IPVG’s new holding company for all of its IT-related businesses.

The executive committee of IPVG’s board of directors approved the execution of the option and partnership agreements with Elchemi Assets (www.elchemigroup.com) to acquire at least 20 percent of the equity of Viridiem, based on a third-party valuation.

The investment is expected to be completed by end of the first quarter 2009. An initial goodwill deposit in the amount of $500,000 will be provided by Elchemi by the first week of February.

Roger Stone, deputy chairman of IPVG and CEO of Viridiem, said, “It has been estimated that data centers worldwide consume in excess of 14 gigawatts of power, and produce as much carbon dioxide (CO2) as air traffic, but inefficiently, as just one percent of the power entering a data center is actually converted to computing work output. Our initiative in Viridiem is to be first in the market with new efficient technologies and to lead the deployment of environmentally sound data centers.”

The first project is the construction of a 10,000 square meter facility, due to be ready for operation at the start of the third quarter this year.

This will be the most modern tier 3+ purpose build data center in Southeast Asia and will cater to the needs of corporations who take energy conservation seriously.