Singapore Telecommunications , Southeast Asia's largest telecommunications operator by revenue, is buying U.S.-based cyber-security firm Trustwave for $810 million, marking its biggest acquisition outside the main telecoms sector.The deal comes as Singtel is moving away from being a pure-play telecoms company and pursues expansion in areas such as "digital life", which includes mobile video and digital advertising, and cyber security through partnerships with FireEye Inc and Akamai, among others.It also comes as the managed security services industry - which refers to the management of an IT system by a third party - is forecast to grow 15 percent annually from 2014 to reach $24 billion in 2018, according to IT consultancy Gartner.That growth potential has already stoked other acquisitions in the cyber-security business, including BAE Systems's $232.5 million deal to purchase SilverSky and FireEye's $1 billion takeover of Mandiant Corp, both in 2014.
FireEye, Inc. invented a purpose-built, virtual machine-based security platform that provides real-time protection to enterprises and governments worldwide against the next generation of cyber attacks. Shares of FEYE traded higher by 2.49% or $0.97/share to $39.91. In the past year, the shares have traded as low as $24.81 and as high as $56.45. On average, 6771730 shares of FEYE exchange hands on a given day and today's volume is recorded at 5980098.