Keppel T&T takes 27.8% stake in Stratech
Stratech will complement Keppel's push to wireless telecommunication with tools and applications for 3G and LMDS networks.
SINGAPORE, 28 July 2000 (Asia Pulse) - Keppel Telecommunications & Transportation Ltd (SGX:KTEL), through its wholly owned eBusiness investment arm Apsilon Ventures Pte Ltd, has announced that it will purchase 13,350,000 shares for S$14.685 million (US$8.4 million) in Singapore technology and eBusiness applications developer and enabler Stratech Systems Limited (Stratech).
Keppel's subscription represents 27.8% of the 48.07 million shares placed out as the institutional investment tranche in Stratech's current IPO exercise, the company said in a release to the Singapore Stock Exchange.
Ng Eng Ho, managing director of Keppel T&T, said: "Our strategic investment in Stratech allows us to leverage on Stratech's resources and capabilities to develop the tools and applications that will place Keppel in a good position to undertake the rollout of broadband technologies such as 3G and LMDS networks.
As a proven developer of advanced technologies, Stratech will complement the capabilities of our telco project engineering arm Keppel Communications." Keppel T&T, through Keppel Communications, has rolled out wireless networks such as GSM and CDMA for service operators and telco manufacturers such as Nokia and Ericsson both in Singapore and the Asia Pacific region. The company is currently testing LMDS networks in Singapore.
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