Singtel Sells its Failing Ad Tech Unit Amobee—Ending a Rough Chapter
Singapore Telecommunications (Singtel) has decided to part ways with its loss‑making digital marketing arm, Amobee, selling it to London‑based Tremor International for $239 million. The move is all about refocusing on its core strengths.
Why Drop Amobee?
- In 2023, Amobee took a shocking $589 million hit for a write‑down.
- The unit, acquired in 2012 for $321 million, has been trudging through negative earnings in the last half of the year, mainly due to a slump in ad revenue.
- Singtel’s CEO, Yuen Kuan Moon, stated: “We’re reshuffling our portfolio to push resources toward fresh growth opportunities and boost shareholder value.”
The Deal in a Nutshell
After the sale, Singtel expects net proceeds of roughly $197 million once the deal closes, which is slated for September. Tremor plans to fund the purchase using its cash reserve and a new $100 million debt line.
Who’s Involved?
- Singtel – selling Amobee, steering its future around core telecom services.
- Tremor International – buying a digital advertising player, adding fresh cash.
- Moelis & Co. – advising Singtel on the divestment.
So while Amobee is getting a new home, Singtel is tightening its belt and promising a sharper focus on what’s really counting—making it a story worth following and, hopefully, making the end less taxing for everyone involved.
