Singtel sharpens security focus with SecureTust sale - Mobile World Live

Singtel sharpens security focus with SecureTust sale

25 OCT 2021

Singapore-based Singtel continued a revamp of its operations with plans to offload its payment card industry compliance business SecureTrust to Sysnet Global Solutions for $80 million.

SecureTrust is a subsidiary of Singtel’s cybersecurity arm Trustwave.

Singtel group CEO Yuen Kuan Moon stated the sale follows “an extensive review of the Trustwave business and serves to sharpen its focus and reposition it for growth”.

He said by divesting the unit, Trustwave can better address cybersecurity threats by “concentrating on its core offerings of managed detection and response”, and managed security services.

The move is part of a corporate restructuring which includes plans to offload telecoms infrastructure assets.

Earlier this month, Singtel agreed to sell a 70 per cent stake in Australia Tower Network for AUD1.9 billion ($1.4 billion).

Singtel stated the financial impact of the transaction will not be material to the group.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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