Latest News

January 2008

ST Electronics Completes Acquisition Of Telematics Wireless Ltd

Singapore, 8 January 2008 — Singapore Technologies Engineering Ltd (ST Engineering) today announced, as a follow up to an earlier announcement on 19 November 2007, that ST Electronics (Info-Comm Systems) Pte. Ltd. (STEE-InfoComm) has completed its acquisition of 93.93% of Telematics Wireless Ltd (Telematics) at approximately US$80m (about S$116m). The acquisition follows the receipt of regulatory approvals and fulfilment of other closing conditions. STEE-InfoComm is a subsidiary of ST Engineering’s electronics arm, Singapore Technologies Electronics Limited (ST Electronics).

Telematics is a key player in the high growth Machine-to-Machine (M2M) industry in which machine assets are connected through wireless info-communication infrastructures to allow wireless transmission of information for remote monitoring and control. Telematics’ key solution offerings include products and solutions utilising wireless network technology for Radio Frequency Location and Vehicular Telematics, Automatic Meter Reading (AMR), and Radio Frequency Identification (RFID) applications for Electronic Toll Collection (ETC) and Asset Security. Telematics is currently among the largest terrestrial and urban asset location system suppliers worldwide with customers from Argentina, Brazil, China, Korea and USA.

Telematics Wireless Ltd, a subsidiary of NASDAQ-listed Ituran Location & Control Ltd, is engaged in the development of radio frequency technology and wireless solutions for the Machine-to-Machine (M2M) industry. Its major customers include location-based service providers for stolen vehicle recovery and fleet management, utility meter manufacturers, as well as electronic toll system providers and road toll operators. 

ST Electronics (Info-Comm Systems) is a wholly-owned subsidiary of Singapore Technologies Electronics Limited. It is a leading solutions house in the Asia Pacific region for infocommunications, advanced electronics and intelligent transportation businesses. From design and development to production, system integration, maintenance and enhancement, it has become a one-stop solutions house and a strong partner for its commercial, government, defence and homeland security customers worldwide. Its core business areas include emergency response and integrated security & surveillance systems, e-Government infocommunication and enterprise solutions, intelligent traffic and advanced fleet management systems, infocommunication security products and solutions, and managed operations services.

ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command & control, training and simulation, intelligent building management, and information security and mobile commerce solutions. Please visit www.stee.stengg.com.

ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors.  Headquartered in Singapore, the Group reported revenues of $4.49b in FY2006.  With a market capitalisation of over $11b, it ranks among the largest companies listed on the Singapore Exchange.  ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries and associated companies in 20 countries and 35 cities.  Please visit www.stengg.com

Media contact:

Sharolyn Choy
VP/Director, Corporate Communications
Singapore Technologies Engineering
Tel: (65) 6722 1883
Fax: (65) 6720 2293
Email: sharolynchoy@stengg.com

Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413 1788 / 9822 3321
Fax: (65) 6484 8840
Email: magloh@stee.stengg.com