Singapore telecom firm Starhub acquires D’Crypt in $90m deal

Singapore telecom firm StarHub Ltd has further augmented its enterprise solutions offering through the acquisition of city-state-based D’Crypt Pte Ltd for a maximum consideration of up to S$122 million ($90.4 million). The acquisition will be paid in cash and funded using internal resources.

The acquisition will be conducted in two phases; 65 per cent upon completion of Phase 1 and 35 per cent in Phase 2 by first half 2021. Following the completion of Phase 2, D’Crypt will be a wholly-owned subsidiary of StarHub. The first phase is expected to close by early 2018.