BT acquires Frontline for SGD 202 mln
BT acquires Frontline for SGD 202 mln Published: Wednesday 5 December 2007 BT has agreed to acquire Singapore’s Frontline Technologies for approximately SGD 202 million. Frontline provides IT consulting, infrastructure services, systems integration and IT outsourcing to local, regional and multinational customers. The company has operations in China, Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines, Taiwan and Thailand. On completion of the share scheme, all issued Frontline shares will be transferred to BT for a cash consideration of SGD 0.245 each. This represents a 33.9 percent premium to the one-month average share price. The acquisition complements BT’s existing networked IT services within the Asia Pacific region. The three executive directors of Frontline, Steve Ting Tuan Toon, Lim Chin Hu and Shirley Wong Swee Ping will continue in their respective roles upon closing of this deal. BT acquires Frontline for SGD 202 mln Published: Wednesday 5 December 2007 BT has agreed to acquire Singapore’s Frontline Technologies for approximately SGD 202 million. Frontline provides IT consulting, infrastructure services, systems integration and IT outsourcing to local, regional and multinational customers. The company has operations in China, Hong Kong, India, Indonesia, Malaysia, Singapore, the Philippines, Taiwan and Thailand. On completion of the share scheme, all issued Frontline shares will be transferred to BT for a cash consideration of SGD 0.245 each. This represents a 33.9 percent premium to the one-month average share price. The acquisition complements BT’s existing networked IT services within the Asia Pacific region. The three executive directors of Frontline, Steve Ting Tuan Toon, Lim Chin Hu and Shirley Wong Swee Ping will continue in their respective roles upon closing of this deal.
