Roehl Niño Bautista · · 1 min readTemasek buys UK tech firm at $7b valuation
Temasek has acquired UK-based Element Materials Technology (Element) from Bridgepoint, a fund management firm, Channel News Asia reported. The size of the acquisition was not disclosed.
The deal could reportedly bump up Element’s valuation to nearly US$7 billion.
Temasek has been a minority shareholder in Element, which tests and certifies industrial products and materials, since 2019.
Element employs 7,000 scientists, engineers, and technologists across 200 laboratories, catering to clients across industries such as aerospace and energy.
Recently, Temasek unit Heliconia Capital led a US$7 million round in Singapore-based logistics firm Haulio. The Singapore state-owned investment company also backed Global Processing Services in a US$400 million round.
Last year, the Temasek’s net portfolio value hit an all-time high of US$283 million, up from US$55 billion the previous year.
See also: Exclusive: Indonesia’s eFishery nets $90m series C from Temasek, SoftBank, Sequoia
Editing by Deepti Sri and Arpit Nayak
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