Singaporean telecommunications giant Singtel is moving to increase its focus on three key businesses in its group digital life division, with the company planning to ramp up its Amobee digital marketing offering, HOOQ regional premium video, and DataSpark advanced analytics and intelligence capabilities.
It also plans to strengthen the division's role as the digital innovation engine through its Innov8 corporate venture capital fund, which specialises in technology investments.
Singtel group said on Friday that its digital lifestyle services AMPed, Dash, HungryGoWhere, Insing.com, and NewsLoop will be managed within its Singapore consumer business, where they are expected to scale faster in order to enhance the company's telecommunications offering in Singapore.
The structural shuffle, which follows an internal review, sees the company work to further diversify its product offering beyond core telecommunications services. It will also see "certain digital initiatives" that are not scalable discontinued.
"In the last three years, we have experimented to explore opportunities where our unique telco assets can be put to best use in this digital era," said Singtel Group CEO Chua Sock Koong. "We have identified digital marketing, regional premium OTT video and advanced analytics as key growth areas. We will double our efforts to build Amobee, HOOQ, and DataSpark to become significant players.
"The group's ability to innovate in the digital space is key to its transformation success. Singtel Innov8, our corporate venture capital fund, continues to give the group early access to leading innovations," said Chua.
The new product alignment is being supported by an executive reshuffle, with Digital Enterprise managing director Samba Natarajan set to take over the group's digital portfolio, including Amobee, HOOQ, DataSpark, and Innov8.
Meanwhile, group digital life CEO Jonathan Auerbach will relinquish his executive role, but remains associated with the group as chairman of HOOQ and director of Amobee.
The move comes as the company launches its IP-based communications app, dubbed Wavee, and just days after it announced its $810 million 98 percent equity acquisition of Chicago-headquartered managed security services provider Trustwave.