SINGAPORE (May 22): Singtel's wholly-owned subsidiary, Singtel Enterprise Security (US) (SES US) has acquired the remaining 2% stake in Trustwave for US$12 million ($16.1 million) in cash.

Following the transaction, SES US will own 100% of the firm that helps businesses fight cybercrime, protect data and reduce security risk.

In conjunction with the transaction, SES US has increased its share capital by US$12 million to US$408.7 million via the issue of 12 million shares at US$1 each to its holding company, Singtel Enterprise Security (Australia) (SES Australia).

Singtel had injected US$12 million into SES US in exchange for ordinary shares at $1 each by intermediate holding companies, namely Singtel ICT, Singtel Enterprise Security and SES Australia.

Shares in Singtel last traded at $3.41 on Monday.