Singapore-based StarHub took full control of rival MyRepublic’s broadband business, spending about SGD105.2 million ($81.8 million) for the 49.9 per cent stake it did not own.

In a stock market filing, StarHub noted the purchase comprises SGD94.3 million for the remaining stake, and SGD10.9 million for assets and the brand.

StarHub stated the acquisition, which secures the brand equity in Singapore along with operational assets, enables “greater strategic alignment” and strengthens its multi-brand, multi-segment strategy.

Nikhil Eapen, the operator’s CEO, said the broadband landscape in Singapore is shifting, with the sector in a phase of consolidation. “As the market shifts, scale, quality and resilience matter more than ever. Smaller players may find it harder to sustain, especially without robust platforms.”

StarHub Online acquired a 50.1 per cent stake in MyRepublic Broadband for SGD70.8 million in 2021.

The acquisition comes a day after Simba Telecom agreed to purchase M1 Group’s telecoms business for an enterprise value of SGD1.4 billion, making it the second-largest player in the city state by connections with 3 million, behind Singtel with 4.5 million.