Temasek to buy security system supplier D'Crypt for $100m
SINGAPORE, 8 August 2019 – StarHub previously bought the military security firm for $122m in 2017.
Temasek has entered into an agreement with Starhub to acquire 100% stake in the cryptographic technology firm D’Crypt for $100m, an announcement revealed.
StarHub and the founding shareholders will receive an initial aggregate cash consideration of $100m and an additional earn-out consideration of up to $33.6m if they achieve agreed business and performance milestones.
Meanwhile, Temasek and StarHub’s joint venture cybersecurity company Ensign InfoSecurity will be issued preference shares and be fully entitled to the economic rights of D’Crypt, whilst StarHub will hold 60% of the economic interest in D’Crypt through its shareholding and interest in Ensign.
StarHub acquired D’Crypt for $122m last December 2017. D’Crypt services clients in the military, security, and government sectors across the globe.
The transaction is expected to be completed in November.