Singapore telecommunications giant Singtel Holdings Ltd. has acquired Chicago-based information security company Trustwave Holdings Inc. for $810 million.

Under the terms of deal, Singtel will own a 98 percent share of Trustwave, with CEO and Chairman of Trustwave Robert J. McCullen retaining the remaining two percent. The deal prices Trustwave at $850 million, excluding debt.

“This strategic partnership creates an unparalleled opportunity to combine Singtel’s robust information and communications solutions with Trustwave’s industry-leading security technologies and managed services platform to deliver cutting-edge solutions that will enhance our customer experience,” McCullen said in a statement.

Founded in 1995, Trustwave offers a range of services that help businesses fight cybercrime, protect data and reduce security risk.

With its cloud and managed security services, integrated technologies, along with a team of security experts, ethical hackers and researchers, Trustwave promises that it is able to help businesses transform the way they manage their information security and compliance programs.

The company claims to have more than 2.7 million businesses signed up to the Trustwave TrustKeeper cloud platform, which delivers automated, efficient and cost-effective threat, vulnerability and compliance management.

Singtel CEO Chua Sock Koong said of the acquisition that the company aspires “to be a global player in cyber security….we have established a strong security business in the region, both organically and through strategic partnerships with global technology leaders. Our extensive customer reach and strong suite of ICT services, together with Trustwave’s deep cyber security capabilities, will create a powerful combination and allow Singtel to capture global opportunities in the cyber security space.”

Trustwave will continue to operate as a standalone business, and the acquisition is naturally subject to regulatory approvals and other customary closing conditions. No date was given as to when the deal may close.