Singapore Telecommunications Limited (Singtel) today announced it will acquire Chicago-based managed security service provider (MSSP) Trustwave for $810 million. Trustwave will operate as a standalone business unit of Singtel after the transaction is finalized.

“Our extensive customer reach and strong suite of ICT services, together with Trustwave’s deep cybersecurity capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cybersecurity space,” Singtel CEO Chua Sock Koong said in a prepared statement.

Trustwave will provide Singtel with:

Singtel supports more than 500 million mobile customers worldwide, and the Trustwave acquisition could help this Asian communications company capitalize on a rapidly expanding managed security services market as well.

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MarketsandMarkets has predicted that the managed security services market is expected to grow from $14.32 billion in 2014 to $31.86 billion in 2019, which represents a compound annual growth rate (CAGR) of 17.3 percent.

Also, Trustwave’s “2015 Security Pressures Report” showed that 78 percent of information security professionals said they are likely or plan to partner with an MSSP this year to protect their organizations.

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