Telecommunications firm Singtel has paid an undisclosed amount to buy one of its portfolio companies, Singapore-based digital services consultancy 2359 Media, The Business Times has reported.
2359 helps corporate clients develop and deploy bespoke mobile applications, websites and, potentially, blockchain products.
The purchase was made by NCS, Singtel’s information, communications and technology division, which will incorporate the company into its Next digital unit.
Singtel’s corporate venturing unit, Singtel Innov8, made its first investment when it led a $1m series A round for 2359 in January 2011 that included local university NUS’s Enterprise Incubator.
