Seraya Partners-backed AQX to acquire SPTel from ST Engineering and SP Group for SGD290m.

Seraya Partners-backed AQX, a digital infrastructure investment platform, agreed to acquire SPTel, a fibre network operator, from ST Engineering, a technology, defence and engineering group, and SP Group, a state-owned electricity and gas distribution company, for SGD290m. "AQX is delighted to partner with SPTel's visionary CEO, Titus Yong, and his experienced leadership team. Together, we look forward to growing SPTel into a premier provider of fibre connectivity solutions for Singapore, while also addressing mission-critical connectivity demands of the SG+ AI corridors into Johor and Batam," Matthias Vukovich, AQX CEO.