Business
AQX announces acquisition of 100% stake in Singapore Enterprise Fibre Operator SPTel
Seraya AQX Pte Ltd ("AQX"), a digital infrastructure investment platform wholly owned by Seraya Partners, has entered into a definitive agreement to acquire 100% of SPTel Pte Ltd ("SPTel") from Singapore Technologies Engineering Ltd's ("ST Engineering") wholly-owned subsidiary, ST Engineering Urban Solutions Ltd., and Singapore Power Limited ("SP") for an enterprise value of SGD290 million (c. USD227 million).
About this update from Singapore Technologies Engineering Ltd
[{"type":"text","content":"SINGAPORE, July 17, 2025 /PRNewswire/ -- Seraya AQX Pte Ltd ("AQX"), a digital infrastructure investment platform wholly owned by Seraya Partners, has entered into a definitive agreement to acquire 100% of SPTel Pte Ltd ("SPTel") from Singapore Technologies Engineering Ltd's ("ST Engineering") wholly-owned subsidiary, ST Engineering Urban Solutions Ltd., and Singapore Power Limited ("SP") for an enterprise value of SGD290 million (c. USD227 million).","length":508,"tagName":"p"},{"type":"text","content":"SPTel is a mission-critical, physically independent fibre network operator in one of Asia's most advanced digital economies. Its nationwide network offers diversity and resilience over the existing telecommunications infrastructure. This architecture enables SPTel to deliver ultra-reliable, low-latency connectivity to corporate, government, telecom, and data centre clients across Singapore. SPTel also provides direct and diverse cross-border fibre routes into neighbouring data centre hubs in Malaysia and Indonesia, positioning it as a natural backbone for the emerging SG+ digital corridor.","length":600,"tagName":"p"},{"type":"text","content":"The acquisition of SPTel represents a rare opportunity to scale a strategic digital infrastructure platform in a high-barrier market. As SPTel remains in the early stages of its P&L growth, the business has significant potential to achieve two to three times growth over the coming years, particularly as demand from the emerging AI and quantum security sectors accelerates. In addition to strong organic growth from its enterprise customer base, the Singapore–Johor corridor is rapidly emerging as a major APAC data centre hub, with a projected combined capacity exceeding 3 GW. SPTel's physically independent fibre network is expected to play a critical role in enabling intra- and cross-border data traffic within this ecosystem.","length":740,"tagName":"p"},{"type":"text","content":"Together with Singapore's position as a leading digital economy and regional gateway, the acquisition positions AQX and SPTel to capture long-term, value-accretive growth opportunities across Asia's digital infrastructure landscape.","length":240,"tagName":"p"},{"type":"text","content":"AQX invests in scalable digital infrastructure assets in A...