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Singtel to net US$197 mil after selling stake in Amobee to Tremor International

Felicia Tan
Felicia Tan7/26/2022 08:05 AM GMT+08  • 2 min read
Singtel to net US$197 mil after selling stake in Amobee to Tremor International
The Singtel building. Photo: Samuel Isaac Chua/The Edge Singapore
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Singapore Telecommunications’ (Singtel’s) wholly-owned subsidiary, Amobee Group, has entered into a sell and purchase agreement (SPA) to sell all of its equity interest in Amobee Asia, Amobee, Inc. and Amobee ANZ to Tremor International.

The sale follows the announcement made on May 27 that Amobee had been classified as a subsidiary held for sale from March 31.

The divestment will exclude the email solutions business of Amobee, Inc., which will be reorganised and carved out of Amobee, Inc. and transferred to Amobee Group or its nominee prior to closing.

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