STT reinforces Armor with $89m investment
Posted on 06 April, 2017 by Chris Winters, reporter
The investment from Singapore Technologies Telemedia will accelerate the adoption of the company’s managed security platform.
Singapore Technologies Telemedia (STT), a wholly-owned subsidiary of Singapore state-owned investment firm Temasek, invested $89m in US-based cybersecurity company Armor, DealStreetAsia reported today.
Armor is a technology security company which provides managed multi-layer security for public and private cloud platforms.
The investment will bolster the company’s R&D, sales and marketing efforts, and help increase its market share.
Investment firm Stephens was the majority shareholder in the company, but with this investment STT is joint lead shareholder.
STT is an investment subsidiary of Temasek that focuses on communications, media and technology sectors, backing startups globally.
Nikhil Eapon, chief strategy and investment officer of STT, said: “STT is an active investor in technology infrastructure and enterprise software with a strong focus on driving value across our portfolio of communications, media and technology companies.
“Armor’s strong performance, with shareholder support from STT and Stephens, creates real opportunity to gain market share as public clouds continue to gain popularity and awareness of Armor increases.”
See more from this Government Report: Singapore
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