IT company UST Global raises $250 million from Temasek at a huge $1.25 Billion Valuation
|UST CEO Sajan Pillai|
image credit : UST Global
California based information and digital services company UST Global which provides end-to-end IT services for various top notch organizations around the world has now raised a huge $250 million in a private equity round from Singapore based national wealth fund Temasek Holdings which is notable for being a major global tech investor.
UST Global doesn’t really count as a traditional startup as the company currently counts over 10,000 global employees with major revenues for the company which was founded way back in 1998.
The startup which counts over 50 clients from the Fortune 500 is also majorly owned by the prominent Kenyan Chandaria Business Family with a notable member, Paras Chandaria being the company’s Chairman.
UST Global is currently profitable with a very solid and growing global business for the company which has made 2 acquisitions this year and participated in investment rounds for various technology companies.
The company is making use of this investment and partnership with Temasek to further improve its business, make needed acquisitions and hugely fund various expansion operations around the globe.
Commenting on the investment was Sajan Pillai who is quoted as saying “As the physical and the digital worlds converge, the current leaders of the physical world seek to adjust to the new digital realities and to new emerging competition. UST is perfectly positioned to provide this digital bridge. The partnership with Temasek will allow us to further our reach so that we can partner our clients in designing their digital impact strategies.”
Temasek has led several investments in various technology companies, 5 to be precise in this month alone, It’s global investments in technology has made it one of the most prominent investment firms in the tech world amongst other global leaders including Softbank, Sequioa and a group of others.
Temasek is also notable for recently leading the $10 Billion round of investment for Ant Financial earlier this month which came with a $150 Billion valuation for the company.