StarHub buys 88% stake in ICT firm Strateq for $82m

The acquisition will be completed in H1 2020.

StarHub is acquiring an 88% stake in Malaysia-based business solutions and information and communications technology (ICT) company Strateq for an initial consideration of up to $82.1m (RM249.7m), according to a press release.

Upon completion, Strateq is planned to be held via its indirect subsidiary Taman Kenyir Holdings and two other Malaysian incorporated entities owned by Tunku Dato’ Seri Shahabuddin, Group Chairman of Strateq, and Strateq executive director Datuk Ir. Dr. Ahmad Fikri Bin Hussein.

The acquisition is expected to be completed within the first half of 2020.

Established in 1988, Strateq focuses primarily on healthcare information systems, retail fuel IT managed services and payment solutions, cloud services, data analytics, data centre services and IT infrastructure projects.