Singapore’s Temasek, StarHub Launch MSSP, Eye APAC Cybersecurity Market
EIS consists of StarHub’s Cyber Security Centre of Excellence and Temasek-owned MSSP Quann, according to a prepared statement.
Also, StarHub will pay $36 million in cash for its stake in the joint venture company, and the transaction is expected to close by the end of next month.
A Closer Look at EIS
EIS provides professional and managed security services and machine learning and proprietary big data capabilities, along with advanced threat detection and monitoring via the company’s security operations center (SOC). In addition, EIS has a workforce of approximately 500 cybersecurity professionals and is led by Executive Chairman Lee Fook Sun, who previously held the same role at Quann.
Initially, EIS plans to build its customer base in Singapore, Malaysia and Hong Kong and expand regionally, according to the company. It intends to prioritize cyber analytics and develop global threat intelligence centers and cybersecurity research and development (R&D) labs.
EIS also strives to operate as “one of Asia’s largest pure play cybersecurity firms,” the company stated. It has established revenue goals in excess of $100 million annually in cybersecurity solutions, systems integration and managed services.
Temasek and StarHub: Here’s What You Need to Know
Founded in 1974, Temasek is a global investment company with a portfolio that spans a variety of industries, including:
- Financial services.
- Energy and resources.
- Media and technology.
- Real estate.
To date, Temasek’s investments have delivered a compounded annualized total shareholder return of 15 percent in terms of Singapore dollars, according to the company.
StarHub offers communications, entertainment and digital solutions across Singapore. The company recorded approximately S$2.4 billion (roughly $1.7 billion) in total revenue last year, and this figure could increase thanks in part to its investment in EIS.
What Does the Future Hold for EIS?
EIS could help Temasek and StarHub capitalize on the rising demand for cybersecurity services in the APAC region.
The APAC cybersecurity services market is projected to expand at a compound annual growth rate (CAGR) of 12.1 percent between 2015 and 2020, according to industry analyst MicroMarketMonitor. Furthermore, this sector could be worth nearly $30.4 billion by 2020.