Singaporean telecommunications company Singtel has bought out 98pc of Trustwave in a US$810m deal as it continues its acquisition drive, strengthening its cybersecurity portfolio.
Trustwave is a US-based cybersecurity firm, offering cloud and managed security services, and adds another string to Singtel’s bow. It bought digital advertising firm Amobee back in 2012 and late last year came to an agreement with FireEye to set up security-monitoring bases in Sydney and its home market of Singapore.
It has also teamed up with Microsoft, thus providing a different suite of cloud services to its customers in the Asia-Pacific region.
"We aspire to be a global player in cybersecurity,” said Singtel CEO Chua Sock Koong. “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 cybersecurity capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cybersecurity space."
Trustwave has more than 3m customers all over the world, employing 1,200 “security-focused” people across 26 countries. It has five separate security operation centres – in Chicago, Denver, Minneapolis, Manila and Warsaw. Robert McCullen, Trustwave’s president and CEO, will maintain a 2pc stake in the company after the purchase.
"We are excited to join Singtel and to leverage its global presence and resources to accelerate worldwide adoption of our security solutions,” he said.
“This strategic partnership creates an unparalleled opportunity to combine Singtel's robust information and communications solutions with Trustwave's industry-leading security technologies and managed services platform to deliver cutting-edge solutions that will enhance our customer experience.
“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."
Cybersecurity image, via Shutterstock