Singapore Telecom to buy US cybersecurity firm for $810m

Singapore Telecom (Singtel) said Wednesday it will buy almost all of US cybersecurity firm Trustwave for $810 million, saying it was looking to become "a global player" in the sector.

Southeast Asia's biggest telecom firm by revenue said it will acquire a 98 percent equity interest in Trustwave under an agreement it signed with the Chicago-headquartered company.

Trustwave, a leading specialist in managed security services, is valued at $850 million, Singtel said in a statement.

Trustwave chairman and chief executive Robert J. McCullen will hold the other two percent.

"We aspire to be a global player in cybersecurity," Singtel group chief executive Chua Sock Koong said in the statement.

Speaking at a news conference Chua added: "I think if you look at acquisitions outside of the traditional telco business on a single investment basis this is the largest that we have done."