Singapore mobile operator will pay an estimated 111 million ringgit ($26.17 million) for a 70% stake in Glocomp Systems and its two affiliated companies, in a move that M1 says will expand its cloud and managed services business.
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Singapore telco says it is in the second phase of its "transformation and growth" journey, during which it aims to become a "full-on digital life" and digital services provider, as well as achieve gross profit growth of SG$220 million ($161.5 million) through to 2026.
Spanning 22,000km and expected to be ready in 2025, the Hawaiki Nui subsea network is touted to have a design capacity of 240Tbps linking Southeast Asia, Australasia, and North America, with Mora Telematika Indonesia as a telecom partner.
StarHub is forking out $162.8 million to acquire a 50.1% stake in MyRepublic's broadband operations in Singapore, which account for 6% share of the local market, in a deal that doesn't include the latter's mobile business or overseas entities.
Singapore internet services provider says it sees significant growth potential in the enterprise space and plans to ramp up its service offerings for this customer sector to include cybersecurity.
New brand strategy comes two years after delisting and Keppel buyout, during which the Singapore telco moved to a new technology stack that runs 90% on the cloud and touted to provide highly personalised mobile services.