BT to buy Frontline for US$139M
BT plans to acquire Frontline Technologies, a Singapore-based IT consulting and services company, for about S$202 million (US$139.7 million).
In a statement released today, BT said the acquisition "complements" its existing networked IT services capabilities within the Asia-Pacific region.
Frontline is listed on the main board of the Singapore Exchange and has operations in China, Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines, Taiwan and Thailand.
François Barrault, CEO of BT Global Services, said: "Frontline will bring to BT major new contracts in Asia, and BT will be in a position to offer Frontline customers the full suite of BT products and services."
Barrault said the companies' "combined reach and skills will create an unbeatable team in Asia-Pacific".
"Frontline brings to BT approximately 5,000 highly skilled and professional people whose reputation for delivering complex solutions and network management services fits perfectly with BT’s strategy," he added.
Frontline's three executive directors, Steve Ting, Lim Chin Hu and Shirley Wong, will continue in their respective roles upon closing of the deal.