The JV is expected to generate revenues in excess of $100m annually.
StarHub and Temasek Holdings’ indirect subsidiary Leone will merge their cybersecurity-focused companies into one of the largest in Asia through a new joint venture called Branded Ensign InfoSecurity (Ensign).
StarHub’s Accel Systems & Technologies (ASTL) and the Temasek-owned Quann will be the companies merged for Ensign. The new Ensign team will have 500 analysts, consultants, and researchers based out of their corporate headquarters in Singapore, where enhanced Security Operations Centres are also located.
Ensign will initially support Government and Enterprise customers and generate revenues in excess of $100m annually in cybersecurity solutions, systems integration and managed services.
In addition to transferring 100% of ASTL and its other cybersecurity assets, StarHub will pay $36m in cash for its stake in the joint venture company. The transaction is expected to close by October 2018.
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