Singtel snaps up stake in US cyber security firm

Singapore

IN line with its ambitions to be a global player in the cyber security market, Singtel is acquiring a 98 per cent stake in US-based Trustwave for US$810 million in its biggest acquisition outside the telecoms segment so far.

Trustwave chairman and chief executive Robert McCullen holds the remaining 2 per cent stake in Trustwave, which has an enterprise value of US$850 million.

The deal will be funded outside of Singtel's S$2 billion war chest, earmarked previously for acquisitions in the digital life arena. It will instead be funded via a…