Singtel had acquired Trustwave in 2015 in a transaction valued at $810 million
Singaporean telecom operator Singtel is considering whether to sell its cybersecurity business Trustwave Holdings, Bloomberg reported, citing sources with knowledge of the matter.
The report revealed that the potential transaction will enable Singtel to raise $200 million to $300 million.
The sources also said that Singtel has been in talks with financial advisers as it prepares for a potential divestment of its Trustwave unit. Trustwave could attract interest from other companies in the industry and investment funds, according to the report.
However, the sources noted that talks are a very preliminary stage and Singtel could still decide to retain Trustwave.
In 2015, Singtel acquired a 98% equity interest in U.S.-based Trustwave in a transaction valued at $810 million.
The report also highlighted that Singtel is seeking to raise cash with the aim of focusing on 5G operations as well as developing new growth engines including information technology services and data centers. In May of 2021, the telco had announced its new strategic direction designed to capture digital growth in the 5G era.
“This strategic reset is the most significant move in recent years to refocus the business and capitalize on technology proliferation and large-scale digitalization (…) We intend to use this unique opportunity to make profound changes, restructure and reposition to emerge stronger,” Group CEO Yuen Kuan Moon has previously said.
Singtel recently said that its 5G Standalone network currently covers over 95% of the country’s territory.
Singtel noted that the milestone comes more than three years ahead of the regulatory target for this level of coverage, which is at the end of 2025.
Singtel’s 5G SA network now covers more than 1,300 outdoor locations and over 400 building across Singapore.
Singtel announced the launch of its 5G SA network in the country in May of 2021. The carrier had partnered with Korean company Samsung to launch 5G SA network, which runs on 3.5 GHz spectrum.
The Asian telco had initially launched its 5G Non-Standalone (NSA) network in September of 2020, using spectrum in the 3.5 GHz frequency as well as existing 2.1 GHz spectrum.
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