Singtel buys US cyber security firm for $810 million

Singapore: Singapore Telecommunications Ltd agreed to buy U.S.-based cyber-security firm Trustwave for $810 million, in a deal that will expand Southeast Asia`s largest telecommunications operator`s cloud-based services.

Trustwave will continue to operate as a stand-alone business unit, Singtel said.

"It will leverage Singtel Group Enterprise`s assets and market presence to broaden its overall security portfolio and address the fast growing emerging security market opportunity in the Asia Pacific region," Singtel said in a statement.

Singtel will buy a 98 percent equity stake in the company, while Trustwave`s chairman and chief executive officer, Robert McCullen, will hold 2 percent.