Seraya AQX Pte Ltd has entered into an agreement to acquire SPTel Pte Ltd for SGD290 million, aiming to enhance SPTel's role as a key fibre network provider in Singapore's growing digital infrastructure market.

Target Information

Seraya AQX Pte Ltd ("AQX"), a digital infrastructure investment platform fully owned by Seraya Partners, has finalized an agreement to acquire 100% of SPTel Pte Ltd ("SPTel") from ST Engineering Urban Solutions Ltd., a wholly-owned subsidiary of Singapore Technologies Engineering Ltd., and Singapore Power Limited ("SP"). The acquisition is valued at SGD290 million (approximately USD227 million).

SPTel operates as a mission-critical, physically independent fibre network operator within one of Asia's most advanced digital economies. The company boasts a comprehensive nationwide network that enhances resilience and diversity over existing telecommunications infrastructure, facilitating ultra-reliable, low-latency connectivity for various clients, including corporate, government, telecom, and data centres across Singapore. Additionally, SPTel offers diverse cross-border fibre routes to data centre hubs in Malaysia and Indonesia, establishing it as an integral component of the emerging SG+ digital corridor.

Industry Overview in Singapore

Singapore's digital infrastructure market is characterized by rapid advancement and innovation, supported by robust governmental policies aimed at bolstering the nation's status as a regional digital hub. The country is a leader in digitalization efforts, reflecting