SingTel: Israel 'part of our golden plans'Sep. 19, 2012
Southeast Asia's largest telco SingTel is eyeing investments and partnerships in Israel, especially in the multimedia space, as part of its ongoing transformation to diversify from its core carriage business to becoming a provider of ICT services.
“We are interested in investing in startups addressing major trends as well as the rise of social and local networks, mobile advertising and the increased need for systems that use smartphone applications,” said Allen Lew, chief executive of SingTel's new Digital Life unit.
Lew, speaking at the annual High Tech Industry Association conference in Jerusalem, added: “Israel is an important part of our golden plans for the digital space. We will be making strategic acquisitions and we will be partnering with companies here.”
He pointed out that the telco had set up a S$200 million (US$163 million) venture capital fund, Innov8, in 2010, which it could tap on to invest in startups.
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