Singapore News

News from Singapore

BT Group to buy Frontline Technologies

Posted by jtsmyth8 on December 6, 2007

British telecoms giant BT Group said yesterday it has agreed to buy Singapore IT firm Frontline Technologies for S$202mil, as it seeks to boost its presence in Asia.

BT has sizeable operations in Japan, South Korea and Australia, but buying Frontline will give it greater exposure to China, India, Taiwan and South-East Asia as it looks to transform itself into a global IT services provider.

“Nothing is enough – it’s a good step,” BT Asia Pacific president Allen Ma told Reuters, when asked about future acquisitions in the region.

BT will pay 24.5 Singapore cents for each Frontline share, a 17% premium to Frontline’s price on Monday before its shares were suspended. (story)

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