Singapore operator StarHub announced it will pay SGD82.1 million ($58.7 million) to acquire a majority stake in Strateq, a Malaysian-based digital services provider, to boost its enterprise capabilities.
The operator will take an 88 per cent interest in Strateq through its Malaysian subsidiary Taman Kenyir Holdings. StarHub CEO Peter Kaliaropoulos said the acquisition strengthens and diversifies its existing ICT managed services and cybersecurity capabilities in Singapore and Asia Pacific.
He added since every business and government client is involved in digital transformation, “data-driven services based on systems integration, cybersecurity, data analytics and managed infrastructure services provide the right opportunity for growth”.
Established in 1988, Strateq provides digital services for enterprise and government customers across Malaysia, Singapore, China, Thailand and the US. It focuses on healthcare information systems and retail IT managed services.
The acquisition is expected to be completed in the first half of the year.
Kaliaropoulos noted StarHub’s transformation strategy includes accelerating growth and diversification by investing in new, asset-light digital services to complement existing fixed and wireless infrastructure operations.
In September 2018, StarHub teamed with Singapore-based investment company Temasek to set up Ensign InfoSecurity, a cybersecurity company offering end-to-end services to enterprises and governments.Subscribe to our daily newsletter Back