Singapore Telecommunications Limited has entered into a definitive agreement to acquire Trustwave
Asia’s leading communications group providing a portfolio of services including voice and data solutions over fixed, wireless and internet platforms as well as infocomm technology and pay TV, Singtel has presence in Asia, Australia and Africa.
The acquisition will strengthens Singtel’s information security capabilities and bolster Trustwave’s ability to expand its position in managed security services globally. According to Reuters, the acquisition is valued at $810 million (£543 million), making this Singtel’s biggest acquisition outside the main telecoms sector. Trustwave completed the acquisition of M86 Security in 2012.
Post-acquisition, Trustwave will operate as a standalone business unit of Singtel. Singtel said it plans to combine its information and communications technology with Trustwave’s broad portfolio of managed security services to boost its cloud-based solutions to encompass security services, to create an end-to-end ICT offering to business customers-bolstering Singtel’s leadership position in the managed services market.
Robert J. McCullen, chairman, CEO and President of Trustwave, said: “We are excited to join Singtel and to leverage its global presence and resources to accelerate worldwide adoption of our security solutions. Singtel is the perfect partner for us as we continue to help businesses fight cybercrime, protect data and reduce security risk, and the Trustwave team is thrilled to become a part of such a prestigious and innovative organisation.”
Chua Sock Koong, Singtel Group CEO, said: “We aspire to be a global player in cyber security. We have established a strong security business in the region, both organically and through strategic partnerships with global technology leaders. Our extensive customer reach and strong suite of ICT services, together with Trustwave’s deep cyber security capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cyber security space.”