The Business Times
business-time-50
SUBSCRIBERS

Singtel to divest Amobee for US$239m, expects to net US$197m

google-preferred-sourceAdd BT as a preferred source
Yong Jun Yuan
Michelle Zhu

Yong Jun Yuan &

Michelle Zhu

Published Tue, Jul 26, 2022 · 08:18 AM
    • Singtel said the transaction is in line with the group’s strategic reset to sharpen its business focus and recycle assets and capital into growth areas with higher returns.
    • Singtel said the transaction is in line with the group’s strategic reset to sharpen its business focus and recycle assets and capital into growth areas with higher returns. PHOTO: REUTERS

    SINGTEL is divesting Amobee to the UK’s Tremor International for an enterprise valuation of US$239 million, above the US media and advertising subsidiary’s carrying value of US$160 million.

    The transaction, which excludes Amobee’s e-mail solutions business, will realise some US$197 million in net proceeds and is expected to complete by September this year.

    In a bourse filing on Tuesday, Singtel said the transaction is in line with the group’s strategic reset to sharpen its business focus and recycle assets and capital into growth areas with higher returns.

    SingtelM&ATelecommunicationsAdvertising/marketing

    TRENDING NOW

    As household size is hardly growing, is there a need to build super-large landed homes?

    Think twice about rebuilding that old landed property into a super-big house to max out GFA

    Trading under the symbol SPCX, SpaceX has picked a handful of brokerage firms to distribute shares in the IPO to retail customers in the US.

    SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares

    Source of wealth establishment processes are typically the most time-intensive elements in onboarding ultra-high-net-worth clients.

    Battle for Asia’s ultra-rich: ‘Singapore can’t afford to keep losing clients to Dubai, Hong Kong’

    Fears of the AI rally overheating have led to tech stocks taking a hit globally.

    Tech rout sweeps Asia as AI rally jitters spark sell-off

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More