Singtel's NCS acquires Aussie IT company The Dialog Group for A$325m
Add BT as a preferred source
NCS, Singtel's Z74 technology services arm, announced that it would acquire Australian IT services company The Dialog Group for A$325 million (S$328 million) as it looks to further its plans to be a pan-Asian business-to-business (B2B) digital services provider.
The acquisition is expected to be completed in 3 months, subject to the approval of regulators and other third parties. A$290 million of the consideration will be paid once the acquisition is completed, while an additional A$35 million will be paid out in tranches within 2 years after.
In a bourse filing, Singtel noted that Dialog's net asset value as at June 30, 2021 was A$43 million. According to a Citi analyst report released on Monday, The company made A$176 million in revenues and A$12 million in profits in its last fiscal year ended June 2021.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
MAS, bank CEOs convene over AI cyberthreats; boards told to own risks, not leave to IT teams
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
LTA circular to potential EV charger owners reveals hundreds of e-mail addresses under carbon copy feature
