ST Engineering’s cyber unit acquires D’Crypt for $67.5m

StarHub’s indirect subsidiary, Keele Investments owns D’Crypt.

ST Engineering’s cyber business, ST Engineering Info-Security, will acquire 100% of the issued shares of D’Crypt from Keele Investments, an indirect subsidiary of StarHub, for $67.5m.

Established in 2000, D’Crypt specialises in cryptographic technology design and offers solutions in encrypted communications, single-chip crypto tokens, secure computing and high-performance computing.

In a bourse filing, ST Engineering said it expects the acquisition to be “cash flow positive from the first year and earnings accretive by the second year post completion, after factoring in financing cost, transaction and integration expenses and amortisation of intangibles.”

“The addition of D’Crypt to our Cyber business significantly augments our cryptographic and quantum capabilities, expanding our encryptor product offerings and enhancing our expertise in cybersecurity. This strategic addition strengthens our talent pool in cryptography and cybersecurity,” said Goh Eng Choon, president of ST Engineering’s Cyber business.