SG’s ST Telemedia set to acquire controlling stake in US firm 2nd Watch

Network servers underlying cloud computing.

In what looks like a strategic investment, ST Telemedia, a unit of Singapore state investment firm Temasek Holdings Pte, is set to acquire a controlling stake in US-based cloud service provider 2nd Watch, according to an announcement.

The transaction is currently pending regulatory approvals.

Headquartered in Seattle, 2nd Watch offers managed cloud services and provides strategy consulting to some of the world’s leading brands, besides managing their IT infrastructure that resides in a hybrid cloud environment.

The company’s existing shareholders such as Madrona Venture Group, Columbia Capital and Delta-v Capital, among others, will continue to retain a significant stake in it.

Over the past few years, ST Telemedia has made a slew of investments in data centres and AI-driven businesses focused on cybersecurity, big data, IT operations, customer digital experiences and managed cloud services.

The investment will help 2nd Watch strengthen its Singapore unit’s managed cloud services capabilities and scale up its operations in the global market.

“We have been solidifying our capabilities across the cloud space …..,” said Stephen Miller, president and group CEO at ST Telemedia, in a statement. “Combining our infrastructure technology portfolio with our position in data centres, ST Telemedia has a unique presence in the global cloud IT ecosystem to ignite adjacent growth across our portfolio,” he added.

In March, ST Telemedia set up a startup to help Asian companies adopt artificial intelligence and cloud technologies, much in line with the city-state’s ambitions to transform the economy through technology. The startup, called Leap, has operations in  Malaysia and Indonesia, besides Singapore.

So far, ST Telemedia, through wholly-owned ST Telemedia Global Data Centres, has built a global data centre platform comprising over 90 facilities in over 16 business markets.

Earlier, it acquired a majority stake in Singapore-based Cloud Comrade for an undisclosed sum. Cloud Comrade also has offices in Indonesia and Malaysia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.