Singapore Telecommunications (Singtel) has entered into an agreement to buy US-based cyber security provider Trustwave for $810m.
With its Trustwave acquisition, Singtel aims to boost and expand its managed security services globally.
According to reports, the deal has come at a time when Singtel is slowly drifting away from its telecom business and venturing into video and digital advertising and cyber security offerings by collaborating with other companies.
Singtel announced that it is planning to integrate Trustwave’s managed security services with its own information and communications technology (ICT).
It will help Singtel’s existing line-up of cloud-based solutions to offer security services and create an end-to-end ICT offering to its business customers.
Singtel Group CEO Chua Sock Koong 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."
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According to reports, the deal is likely to be closed within the next three to six months.
