Singapore tech firms drive Southeast Asia’s $19.7b M&A wave

KKR and Singtel’s $6.b acquisition of ST Telemedia Global Data Centres tops the list.

Singapore accounted for the majority of Southeast Asia’s largest technology acquisitions, with 16 of the 25 biggest deals involving companies headquartered in the country, according to research firm Tracxn.

Tracxn’s “The 25 Biggest Tech M&A Deals in Southeast Asia” ranks acquisitions by purchase price and covers transactions involving technology companies in Singapore, Malaysia, Indonesia, Thailand, and Myanmar, with deal dates spanning January 2020 to June 2026.

The list includes businesses across consumer and enterprise technology sectors.

The 25 acquisitions recorded a combined value of more than $19.7b (US$15.2b), with buyers from Japan, Taiwan, Thailand, the US, Europe, China, and India.

Singapore-based companies were featured in the largest transactions, led by the $6.b (US$5.2b) acquisition of ST Telemedia Global Data Centres by KKR and Singtel.

The deal was the biggest transaction on the list and, on its own, exceeded the combined value of the bottom 19 acquisitions.

Another major Singapore deal was the acquisition of digital insurer Singlife by Japan’s Sumitomo Life for $4.4b (US$3.4b), making it the second-largest transaction in the ranking.

Other large Singapore transactions included online property platform PropertyGuru, which was acquired by EQT for $1.4b (US$1.1b), and data and technology services company Straive, acquired by EQT for $1.3b (US$1b).

Precision engineering company Interplex was acquired by BizLink for $1.2b (US$900m), adding to the list of major enterprise technology-related deals involving Singapore-headquartered businesses.

($1 = US$0.77)