Latest news with #SPTel
Korea Herald
17-07-2025
- Business
- Korea Herald
AQX announces acquisition of 100% stake in Singapore Enterprise Fibre Operator SPTel
SINGAPORE, July 17, 2025 /PRNewswire/ -- Seraya AQX Pte Ltd ("AQX"), a digital infrastructure investment platform wholly owned by Seraya Partners, has entered into a definitive agreement to acquire 100% of SPTel Pte Ltd ("SPTel") from Singapore Technologies Engineering Ltd's ("ST Engineering") wholly-owned subsidiary, ST Engineering Urban Solutions Ltd., and Singapore Power Limited ("SP") for an enterprise value of SGD290 million (c. USD227 million). SPTel is a mission-critical, physically independent fibre network operator in one of Asia's most advanced digital economies. Its nationwide network offers diversity and resilience over the existing telecommunications infrastructure. This architecture enables SPTel to deliver ultra-reliable, low-latency connectivity to corporate, government, telecom, and data centre clients across Singapore. SPTel also provides direct and diverse cross-border fibre routes into neighbouring data centre hubs in Malaysia and Indonesia, positioning it as a natural backbone for the emerging SG+ digital corridor. The acquisition of SPTel represents a rare opportunity to scale a strategic digital infrastructure platform in a high-barrier market. As SPTel remains in the early stages of its P&L growth, the business has significant potential to achieve two to three times growth over the coming years, particularly as demand from the emerging AI and quantum security sectors accelerates. In addition to strong organic growth from its enterprise customer base, the Singapore–Johor corridor is rapidly emerging as a major APAC data centre hub, with a projected combined capacity exceeding 3 GW. SPTel's physically independent fibre network is expected to play a critical role in enabling intra- and cross-border data traffic within this ecosystem. Together with Singapore's position as a leading digital economy and regional gateway, the acquisition positions AQX and SPTel to capture long-term, value-accretive growth opportunities across Asia's digital infrastructure landscape. AQX invests in scalable digital infrastructure assets in Asia Pacific developed markets such as Singapore, Japan, Korea, and Australia. It focuses on hard to replicate assets that are defensible, and aligned with secular growth themes such as enterprise digitization, AI, and data center proliferation. " The acquisition of SPTel by AQX aligns with Seraya Partners' strategy of investing in scarce infrastructure platforms with long-term value creation potential, and we would like to thank ST Engineering and SP for entrusting us with this opportunity to support SPTel in the next chapter of its exciting growth journey," said James Chern, CIO and Managing Partner of Seraya Partners. Through this acquisition, AQX aims to expand SPTel's operations and network, with the vision of transforming SPTel into the leading provider of advanced enterprise and data centre fibre connectivity solutions for the SG+ region. AQX is also committed to supporting SPTel's continued innovation in next-generation value-added services, including the development of Singapore's first nationwide quantum-safe network. SPTel will maintain its service commitments and capabilities to ST Engineering and SP. " AQX is delighted to partner with SPTel's visionary CEO, Titus Yong, and his experienced leadership team. Together, we look forward to growing SPTel into a premier provider of fibre connectivity solutions for Singapore, while also addressing mission-critical connectivity demands of the SG+ AI corridors into Johor and Batam," added Matthias Vukovich, CEO of AQX. The proposed transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including regulatory approvals from the Infocomm Media Development Authority of Singapore.
Straits Times
17-07-2025
- Business
- Straits Times
ST Engineering to book one-off gain of $80 million from sale of broadband joint venture SPTel
Find out what's new on ST website and app. ST Engineering and SP Group are to divest their joint venture SPTel, an enterprise broadband connectivity provider. SINGAPORE - ST Engineering's wholly-owned subsidiary, ST Engineering Urban Solutions, has entered into an agreement with SP Group to divest their joint venture SPTel, an enterprise broadband connectivity provider. The buyer is AQX, a digital infrastructure investment platform wholly-owned by home-grown private equity firm Seraya Partners. It will acquire SPTel for $290 million, subject to closing adjustments. In a July 17 statement, ST Engineering and SP Group said the proposed transaction will better position SPTel to scale under a new owner. '(It) will enable SPTel to grow under a new owner whose primary mandate is in investing and growing digital infrastructure platforms,' they said. Divestment proceeds will be distributed to the sellers in proportion to their shareholdings in SPTel, which is 51 per cent owned by ST Engineering Urban Solutions and 49 per cent owned by SP Group. The proposed sale is expected to yield a one-off gain of around $80 million for ST Engineering based on its carrying value for SPTel of around $65 million. Besides this, it is not expected to have material impact on ST Engineering's consolidated net tangible assets per share and earnings per share for the current financial year. Top stories Swipe. Select. Stay informed. Singapore HSA launches anti-vaping checks near 5 institutes of higher learning Opinion The workplace needs to step up on mental health to match Singapore's efforts at the national level Business Market versus mission: What will Income Insurance choose? Singapore Singapore Zoo celebrates reptile baby boom, including hatchings of endangered species Life First look at the new Singapore Oceanarium at Resorts World Sentosa Business Singapore key exports surprise with 13% rebound in June amid tariff uncertainty Opinion AI and education: We need to know where this sudden marriage is heading Singapore Coffee Meets Bagel's Singpass check: Why I'll swipe right on that Additionally, the sellers may receive an earn-out amount of up to $15 million if certain buyer's return thresholds are met in the future, ST Engineering and SP Group said. The proposed transaction is expected to close in the fourth quarter of 2025.
Business Times
17-07-2025
- Business
- Business Times
ST Engineering unit, SP Group to sell joint venture for S$290 million to Singapore fund manager Seraya Partners
[SINGAPORE] ST Engineering's wholly owned subsidiary, ST Engineering Urban Solutions, has entered into an agreement with SP Group to divest their joint venture SPTel, an enterprise broadband connectivity provider. The buyer is AQX, a Tokyo-based digital infrastructure investment platform focused on developed Asia-Pacific markets such as Singapore, Japan, Korea and Australia. It is wholly owned by home-grown private equity manager Seraya Partners. On Thursday (Jul 17), ST Engineering and SP Group said the proposed transaction will better position SPTel to scale under a new owner. '(It) will enable SPTel to grow under a new owner whose primary mandate is in investing and growing digital infrastructure platforms,' they said. The sale consideration is S$290 million, subject to closing adjustments. This translates to an enterprise value-to-revenue multiple of 4.1 times and an enterprise value to earnings before interest, taxes, depreciation and amortisation (Ebitda) multiple of 21.4 times, based on SPTel's revenue and Ebitda for the year ended December 2024. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up SPTel is 51 per cent owned by ST Engineering Urban Solutions and 49 per cent owned by SP Group. The proposed sale is expected to yield a one-off gain of around S$80 million for ST Engineering based on its carrying value for SPTel of around S$65 million. Besides this, it is not expected to have material impact on ST Engineering's consolidated net tangible assets per share and earnings per share for the current financial year. Additionally, the sellers may receive an earn-out amount of up to S$15 million if certain buyer's return thresholds are met in the future, ST Engineering and SP Group said. For the financial year ended December 2024, SPTel posted S$72 million in revenue and a S$4 million net loss. Its revenue is not consolidated into the financials of both joint venture owners as it is equity accounted. The sale consideration and earn-out amount were arrived at on a willing-seller, willing-buyer basis, taking into account the business track record, prospects of SPTel and its financial performance among other factors, the companies said. The proposed transaction is expected to close in Q4 2025, subject to conditions including approval from the Infocomm Media Development Authority. None of the directors or controlling shareholders of ST Engineering have any interest in the proposed transaction. Seraya Partners is a Singapore-headquartered private equity manager that focuses on Asian mid-market deals in the energy transition and digital infrastructure sectors. ST Engineering Urban Solutions acquired a 51 per cent stake in SPTel in May 2017, prior to which it was wholly owned by SP Group since 1997. Shares of ST Engineering ended Wednesday 0.1 per cent or S$0.01 higher at S$8.34.
Yahoo
17-07-2025
- Business
- Yahoo
AQX announces acquisition of 100% stake in Singapore Enterprise Fibre Operator SPTel
SINGAPORE, July 17, 2025 /PRNewswire/ -- Seraya AQX Pte Ltd ("AQX"), a digital infrastructure investment platform wholly owned by Seraya Partners, has entered into a definitive agreement to acquire 100% of SPTel Pte Ltd ("SPTel") from Singapore Technologies Engineering Ltd's ("ST Engineering") wholly-owned subsidiary, ST Engineering Urban Solutions Ltd., and Singapore Power Limited ("SP") for an enterprise value of SGD290 million (c. USD227 million). SPTel is a mission-critical, physically independent fibre network operator in one of Asia's most advanced digital economies. Its nationwide network offers diversity and resilience over the existing telecommunications infrastructure. This architecture enables SPTel to deliver ultra-reliable, low-latency connectivity to corporate, government, telecom, and data centre clients across Singapore. SPTel also provides direct and diverse cross-border fibre routes into neighbouring data centre hubs in Malaysia and Indonesia, positioning it as a natural backbone for the emerging SG+ digital corridor. The acquisition of SPTel represents a rare opportunity to scale a strategic digital infrastructure platform in a high-barrier market. As SPTel remains in the early stages of its P&L growth, the business has significant potential to achieve two to three times growth over the coming years, particularly as demand from the emerging AI and quantum security sectors accelerates. In addition to strong organic growth from its enterprise customer base, the Singapore–Johor corridor is rapidly emerging as a major APAC data centre hub, with a projected combined capacity exceeding 3 GW. SPTel's physically independent fibre network is expected to play a critical role in enabling intra- and cross-border data traffic within this ecosystem. Together with Singapore's position as a leading digital economy and regional gateway, the acquisition positions AQX and SPTel to capture long-term, value-accretive growth opportunities across Asia's digital infrastructure landscape. AQX invests in scalable digital infrastructure assets in Asia Pacific developed markets such as Singapore, Japan, Korea, and Australia. It focuses on hard to replicate assets that are defensible, and aligned with secular growth themes such as enterprise digitization, AI, and data center proliferation. "The acquisition of SPTel by AQX aligns with Seraya Partners' strategy of investing in scarce infrastructure platforms with long-term value creation potential, and we would like to thank ST Engineering and SP for entrusting us with this opportunity to support SPTel in the next chapter of its exciting growth journey," said James Chern, CIO and Managing Partner of Seraya Partners. Through this acquisition, AQX aims to expand SPTel's operations and network, with the vision of transforming SPTel into the leading provider of advanced enterprise and data centre fibre connectivity solutions for the SG+ region. AQX is also committed to supporting SPTel's continued innovation in next-generation value-added services, including the development of Singapore's first nationwide quantum-safe network. SPTel will maintain its service commitments and capabilities to ST Engineering and SP. "AQX is delighted to partner with SPTel's visionary CEO, Titus Yong, and his experienced leadership team. Together, we look forward to growing SPTel into a premier provider of fibre connectivity solutions for Singapore, while also addressing mission-critical connectivity demands of the SG+ AI corridors into Johor and Batam," added Matthias Vukovich, CEO of AQX. The proposed transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions, including regulatory approvals from the Infocomm Media Development Authority of Singapore. Redpeak Advisors acted as the exclusive financial advisor to AQX in this transaction. View original content: SOURCE AQX Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
