Ashurst represents Singapore Telecommunications on the acquisition of Velocity Business Solutions
04 October 2021
Global law firm Ashurst acted for Singapore Telecommunications Limited (SingTel) as the holding company of NCS, on the acquisition of all the shares in Velocity Business Solutions Limited, a Hong Kong-based data analytics firm.
The acquisition is part of NCS' trio acquisitions in Singapore, Australia and Hong Kong, which will help boost the capabilities of NCS’ digital services organisation, NCS NEXT, in its key markets in the Asia Pacific region, creating a unique combination of digital, data analytics, and cloud services that will help government and enterprise clients become digital at their core. The three companies’ established network of clients, partners, and local expertise, will also advance NCS’ reach into new segments and drive further growth in the digital and cloud services space. The acquisition is also in line with SingTel’s strategic reset announced in May to turn NCS into a B2B services champion in Asia and develop new engines of growth.
SingTel is Asia’s leading communications technology group, operating in one of the world’s fastest growing and most dynamic regions with over 140 years of history.
The Ashurst team was led by Asia head of corporate transactions Joshua Cole, supported by Valerie Tay and Aaron Kwong.
