Global investment company, Temasek has invested US$250 million in digital transformation solutions company, UST Global for a minority stake in the company. This marks UST Global's first institutional investor, as it enters the unicorn club following the investment. Avendus Capital and DBS Bank were the financial advisors on this transaction.
Founded in 1999, UST Global has 35 offices around the globe with regional headquarters in California, Singapore and London, and offers digital technology solutions to Fortune 500 companies across various geographies.
It caters to technology and innovation requirements of multinational corporations, and aims to provide end-to-end solutions such as digital customer engagement, data analytics, cloud consulting, and cybersecurity solutions among others.
According Sajan Pillai, CEO, UST Global (pictured), the partnership with Temasek will allow the company to further its reach to partner clients in designing their digital impact strategies.
"As the physical and the digital worlds converge, the current leaders of the physical world seek to adjust to the new digital realities and to new emerging competition. UST is perfectly positioned to provide this digital bridge,” Pillai added.