MyRepublic Completes Sale of Remaining 49.9% Stake in Broadband Business to StarHub
- Written by Media Outreach
The two companies began their partnership in 2021, with StarHub acquiring a 50.1% stake for an initial consideration of S$70.8 million.
Over the past four years, this collaboration has combined StarHub's scale and resources with MyRepublic's innovation DNA and customer-first approach, driving steady growth in market share and profitability in the broadband division.
"MyRepublic has always sought to push the boundaries of what's possible in connectivity," said Malcolm Rodrigues, Founder & CEO of MyRepublic . "As a premium broadband provider especially popular with gamers and customers who care deeply about speed and reliability, we were the first to launch 1Gbps residential broadband in 2014, helping Singapore become a 'Gig-Nation'. Together with StarHub and with the support of IMDA's NBN 2.0 initiative, we were again first in bringing nationwide 10Gbps to market."
With effect from today, StarHub has purchased the remaining 49.9% stake, together with certain other complementary parts of MyRepublic's business, for a consideration of S$105.2 million.
Rodrigues added "I want to thank MyRepublic customers, employees, partners, regulators, and investors for the opportunity to build this business. Together we've reimagined telecom in Singapore and the region."
"StarHub shares the same customer obsession that has always driven MyRepublic, and our combined vision over the past four years has been a powerful force in delivering this success, and we are safe in the knowledge that the MyRepublic team will continue to deliver innovation and excitement to Singapore's broadband consumers under StarHub's stewardship", said Rodrigues.
The other operations and business of the company, mobile businesses in Singapore and New Zealand, under the MyRepublic and Rocket Mobile brands respectively, as well as its platform and digital business, MyRepublic Digital, will continue as usual. The non-broadband customers can be rest assured that they will continue to enjoy MyRepublic services which will only continue to improve.
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Hashtag: #StarHub #MyRepublic #Broadband #GigNation
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