Telecommunications infrastructure company, PT Solusi Sinergi Digital or Surge, through its subsidiary PT Jaringan Infra Andalan (JIA), has taken another bold step in its expansion strategy through a major share acquisition of PT Investasi Jaringan Nusantara (IJN) of Rp 599 billion (US$37 million).
The acquisition is aimed at strengthening the group’s business network and expanding its coverage in the telecommunications and digital infrastructure sectors. This move follows Surge’s earlier acquisition of PT Garuda Prima Internetindo (GPI) for Rp250 billion on July 21, 2025 underscoring the group’s aggressive push to grow its portfolio and capacity.
"Based on the Share Purchase Agreement dated August 4 and 5, 2025, the shareholders of IJN have transferred their shares to JIA," Shannedy Ong, Surge’s Technology Director, said in an information disclosure on Monday, August 11, 2025.
In a separate statement, Shannedy cited that GPI’s shares − previously held by non-affiliated parties Novi Solichmawati and Muhammad Arif − were transferred to JIA and Hermansjah Haryono, now President Director of PT Integrasi Jaringan Ekosistem (IJE), another Surge subsidiary. "This transaction supports the group’s expansion plans," Shannedy added.
Surge, affiliated with businessman Hashim Djojohadikusumo, has reported a sharp improvement in its financial performance. In the second quarter of 2025, net profit attributable to the parent entity jumped 155 percent year-on-year to Rp227.91 billion, from Rp89.86 billion in the same period last year. Revenue rose 66 percent to Rp513.46 billion, while the cost of revenue fell to Rp121.10 billion from Rp129.64 billion.
Despite the strong earnings report, Surge’s shares fell 2.298 percent or 60 points to 2,560 in trading on Friday, August 8, 2025. Over the past week, the stock has declined 8.24 percent, but it has still surged an impressive 524.39 percent since the start of the year.
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