Singapore Telecommunications Limited (Singtel) will acquire Trustwave, in a deal that Techcrunch reports is worth $810 million, the security company announced on Tuesday.
With the acquisition, Singtel is looking to expand its own line of cloud-based solutions to include security services and become a global player in cybersecurity, according to a release.
Trustwave, which has more than three million business subscribers in 96 countries and boasts upwards of 1,200 employees in 26 countries, will remain based in Chicago and, until the acquisition is complete, will operate as a standalone business unit of Singtel.
Once the deal is finalized, Singtel plans to blend its own information communications technology (ICT) portfolio with Trustwave's managed securities portfolio, and Trustwave's current management team will remain at the helm of the business.
