ST Engineering's electronics arm increases stake in Knowledge Alive

Acquisition to boost capabilities in the area of eLearning, soft skills training and enabling career transition.

Singapore Technologies Engineering Ltd (ST Engineering) announced on Friday that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has acquired the remaining 54.53% equity stake in Knowledge Alive Pte Ltd (Knowledge Alive) through its wholly owned subsidiary, ST Electronics (Training & Simulation Systems) Pte. Ltd. The equity stake was acquired from the other existing shareholder, August Technologies Pte Ltd, for a total cash consideration of $696,924, arrived at on a willing buyer willing seller basis taking into consideration the net tangible assets of Knowledge Alive, according to a ST Engineering release on Friday.

Upon acquisition, Knowledge Alive will be restructured as a wholly owned subsidiary of ST Electronics (e-Services) Pte. Ltd. (STEE-eServ), which currently operates a Centre for Management Development. STEE-eServ has built up a strong business model and capabilities in the area of eLearning, soft skills training and enabling career transition. Both companies will have immediate access to each other's customer base and share training capabilities.

Knowledge Alive is an e-Learning solutions provider of premier IT education to the private and public sectors. Its restructuring under STEE-eServ will strengthen the group's offering and reach as well as tap into the synergy of the two companies to deliver eLearning and training solutions to the market.

The acquisition and restructuring of Knowledge Alive into STEE-eServ are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

ST Electronics owns 100% of ST Electronics (Info-Software Systems) Pte. Ltd and STEE-eServ is a wholly owned subsidiary of ST Electronics (Info-Software Systems) Pte. Ltd.