BT plans to acquire to buy Singapore IT firm for $140m

BT will acquire Singapore IT services firm Frontline Technologies for S$202 million ($139.6 million), the company announced Wednesday.

BT will buy 100% of the Singapore-listed company at a premium of 33.9% of its share price over the past month.

Founded 14 years ago, Frontline provides IT consulting, systems integration and outsourcing in greater China, India and southeast Asia. It is capitalized at S$157 million.

François Barrault, CEO BT Global Services, said Frontline had strong presence in financial services, transportation, manufacturing, telecommunications, education, healthcare and the public sector.

'Frontline brings to BT approximately 5,000 highly skilled and professional people whose reputation for delivering complex solutions and network management services fits perfectly with BT's strategy,' he said.

Completion of the takeover is subject to shareholder approval and confirmation by the High Court of Singapore.

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