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Temasek-StarHub JV Ensign InfoSecurity descends from Mount Olympus after four stealthy years

Nicole Lim
Nicole Lim • 5 min read
Temasek-StarHub JV Ensign InfoSecurity descends from Mount Olympus after four stealthy years
The cyber security unit boasts a revenue growth of more than 3x over the last five years, but analysts say it's still loss-making. Photo: Ensign InfoSecurity
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After nearly four years of operating in “stealth mode”, Temasek-StarHub-owned pure-play cybersecurity firm Ensign InfoSecurity has emerged. On Nov 28, the telco hosted its first-ever Investor Day with a sole focus on the cybersecurity unit, which was formed as a merger between cybersecurity firms Quann and Accel Systems & Technologies in 2018, resulting in a 60% ownership by Temasek and 40% ownership by StarHub (SGX:CC3)

In StarHub's most recent 3QFY2023 business performance update, the telco said that it has retained assigned rights over Ensign for an additional two years, bringing its effective interest to 55.73%.

Analysts and media had largely been kept in the dark about Ensign’s development, product lines, and go-to-market strategies. But on Nov 28, its group CEO Tammie Tham revealed its playbook of the past few years — this includes seeing a revenue growth of more than 3x, at a CAGR of consistently above 30% over the last five years. 

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