Singapore Telecommunications Limited (SGX: Z74) announced Tuesday that it will buy U.S.-based cyber-security firm Trustwave for $810 million, according to a Reuters report.
“The deal comes as Singtel is moving away from being a pure-play telecoms company and pursues expansion in areas such as ‘digital life’,” according to the report, "which includes mobile video and digital advertising, and cyber security through partnerships with" companies such as FireEye Inc FEYE and Akamai Technologies, Inc. AKAM.
Singtel CEO Chua Sock Koong said, "Today's acquisition of Trustwave is a critical step to capturing global opportunities in the cyber security market.”
Following the news, FireEye Inc traded at $40.91Wednesday morning, up 2.51 percent.
Akamai Technologies, Inc. recently traded at $71.30, up 0.31 percent.
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