Singtel

Singtel: Spent an aggregate US$385m to acquire US-based companies Adconoin group (US$235m) and Kontera (US$150m). Adconoin group, comprising Adconoin Media Inc and Adconoin Pty Ltd, is a digital advertising group with operations primarily in US and Australia, while Kontera is a data analytical and marketing technology company with offices in US, UK and Israel. Singtel intends to cross sell services across the digital businesses to gain scale and solidify its position. Maybank-KE reckons the acquisitions will transform subsidiary- Amobee from a mere digital advertising company into an all-rounded mobile-led digital marketing company, accelerating the break even process for the group's Digital Life segment. Maybank-KE maintains their Buy rating with TP of $4.35.