Singtel is set to acquire 98 percent stake in US-based Trustwave, a provider of managed security services, for $810 million.
With the acquisition, Singtel aims to capture global opportunities in the cyber security space.
Trustwave Chairman and CEO, Robert J McCullen, will hold the balance 2 percent equity stake in Trustwave that has presence in North America, Europe and Asia Pacific. Threat management, vulnerability management and compliance management are the main focus areas of Trustwave.
Chua Sock Koong, CEO of Singtel Group, 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.”
The acquisition will expand Singtel’s existing portfolio of cloud based solutions and further enhance its position in the managed services market.
Singtel will leverage Trustwave’s threat intelligence, technology and talent to meet the growing demand for always-on managed security services in North America and the Asia Pacific region. Trustwave, headquartered in Chicago, has over three million business subscribers, served by 1,200 employees in 26 countries.
It provides round-the-clock support in a dynamic cyber threat environment through its five security operation centres and nine engineering centres.
Trustwave will continue to operate as a standalone business unit and strengthen its position in the US and Europe. It will leverage Singtel Group Enterprise’s assets and market presence to broaden its overall security portfolio.