Date
24 October 2017
SingTel says its latest acquisition will expand its existing portfolio of cloud-based solutions and help grow its managed services business. Photo: WSJ
SingTel says its latest acquisition will expand its existing portfolio of cloud-based solutions and help grow its managed services business. Photo: WSJ

SingTel to buy US cybersecurity firm for US$810 mln

Singapore Telecommunications Ltd. is buying Trustwave, a United States managed-security services specialist, in a deal valued at US$810 million.

SingTel, Southeast Asia’s biggest telecommunications firm by revenue, will acquire 98 percent of the equity of Trustwave, with Robert J. McCullen, the chairman and chief executive of the Chicago firm, holding the balance.

Trustwave is the largest independent managed security services provider in North America and also operates in Europe and Asia Pacific, the Wall Street Journal reported Wednesday, citing a SingTel filing to Singapore Exchange.

Trustwave’s services include threat management, vulnerability management and compliance management.

“We aspire to be a global player in cybersecurity. We have established a strong security business in the region, both organically and through strategic partnerships with global technology leaders,” said Chua Sock Koong, SingTel group chief executive.

SingTel, the biggest company in Singapore by market capitalization, has bought stakes in firms across the world to chase growth beyond its limited local market.

In 2012, it bought Amobee, a digital advertising firm for US$321 million. In addition, SingTel owns substantial stakes in several telecommunications firms across Asia, including India’s Bharti Airtel Ltd. and Telkomsel in Indonesia.

SingTel said its latest acquisition will expand the firm’s existing portfolio of cloud-based solutions and help grow its managed services business.

Trustwave has more than three million business subscribers, served by 1,200 employees in 26 countries, SingTel said.

SingTel expects Trustwave to continue to operate as a standalone business unit and strengthen its position in the US and Europe.

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