ST Telemedia and Tata Communications complete the Singapore data centre joint venture transaction. Both partners to power ahead to grow and strengthen the Singapore and India data centre business.
Tata Communications announced in Feb 2017 the successful completion of the Singapore data centre joint venture transaction with ST Telemedia (STT), a global investor in communications, media and technology businesses.
In May 2016, both companies announced their entry into definitive agreements whereby STT, through its wholly owned subsidiary, ST Telemedia Global Data Centres (STT GDC), agreed to acquire a 74% majority stake in Tata Communications' data centre business in India and Singapore, with Tata Communications holding the remaining stake as a minority shareholder. The India data centre joint venture transaction was successfully completed on October 19th, 2016.
The completion of both Singapore and India transactions reinforces the strategic partnership between the two dynamic companies, working closely and drawing on each other's complementary capabilities and experience to accelerate growth in the vibrant data centre markets in Singapore and India.
Since the May announcement, both companies' management teams have been working closely to identify areas for business integration to enhance customer service and realise the full potential of the business partnership. Both partners remain committed to ensuring a smooth transition for existing customers and employees of Tata Communications' India and Singapore data centres into the broader STT GDC platform.
The Tata Communications Global Network reaches more than 240 countries and territories, 99.7% of the world's GDP, millions of businesses, and billions of people. It includes the world's only fibre ring around the world ST Telemedia is an active investor igniting growth opportunities emerging from the digital convergence of users, communities, content and services. Focused on four business segments – Communication & Media Services, Enterprise Services, Data Centres, and Emerging Technologies.