Singaporean sovereign wealth fund Temasek Holdings today agreed to pick a minority stake in UST Global for an undisclosed sum, making it the first institu- tional investor in the digital technology solutions player.
"The partnership with Temasek will allow us to further our reach so that we can partner our clients in designing their digital impact strategies," Sajan Pillai, UST chief executive said in a statement.
He further said the investment marks a milestone for the company as it Temasek is the first institutional investor.
UST Global was founded in 1999 and offers digital technology solutions to over 50 Fortune 500 companies across various geographies.
The company has regional headquarters in California, Singapore and London, and over 35 offices across the world.
The company did not disclose the size of the deal, which was advised by Avendus Capital, or the quantum of stake being picked by Temasek.
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