Singapore Telecom To Buy U.S. Cybersecurity Firm For $810 Mn

SINGAPORE: Singapore Telecom said it will buy almost all of U.S. cyber security firm Trustwave for $810 million, saying it was looking to become "a global player" in the sector.

Southeast Asia's biggest telecom firm by revenue said it will acquire a 98 percent equity interest in Trustwave under an agreement it signed with the Chicago-headquartered company.

Trustwave, a leading specialist in managed security services, is valued at $850 million, Singtel said in a statement.

Trustwave chairman and chief executive Robert J McCullen will hold the other two percent.

"We aspire top be a global player in cybersecurity," Singtel group chief executive Chua Sock Koong said in the statement.

Speaking at a news conference Chua added: "I think if you look at acquisitions outside of the traditional telco business on a single investment basis this is the largest that we have done."
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