StarHub has unveiled plans to bolster its data analytics offering to corporate clients. Currently, corporate clients account for 42% of StarHub’s revenue, based on last year’s figures. This was double the figure eight years ago, according to StarHub CEO Tan Tong Hai in a recent interview with Bloomberg.
The telco plans to provide more data analytics to corporate clients in its new strategy, Tan said. Currently, the company competes on data analytics with Singtel, which Tan said is still the dominant player in the market.
Another growth area the company is eyeing is through the buying of assets. According to StarHub chief financial officer Dennis Chia in a statement to Bloomberg, the company has the means to fund acquisitions that can support its enterprise business.
Most recently, StarHub finalised its decision to acquire cyber security solutions provider Accel Systems & Technologies. According to Tan, the Accel acquisition will look to complements its network-based capabilities. This would allow the telco to compete in major government and commercial cyber security tenders.
Following completion in two phases, Accel will be a wholly-owned subsidiary of StarHub. It is currently in the midst of acquiring the remaining 49% stake in Accel Systems & Technologies. Phase 2 is expected to close by July 2017 while Phase 3 is expected to close by the first quarter of 2020. The telco first acquired a 51% stake in Accel Systems & Technologies in May.
This is not the first time the telco has made a move to boost its analytics capabilities. In March this year, StarHub launched Curiosity, its in-house digital and social analytics hub. The new outfit emphasises on social analytics to help potential clients mine insights most relevant to their marketing campaigns, led by Rod Strother, StarHub’s VP of digital transformation.
During an interview with Marketing at the time, Strother explained that the new investment “will definitely compete with what existing social media agencies have to offer.”
In the same month, StarHub also opened a 58,000 square feet innovation centre and converged operations cockpit named Hubtricity. The new facility acts as a foundation to accelerate service innovation and co-creation with partners and customers.