Aliso Viejo-based IT services provider UST Global has received a $250 million investment from
Temasek Holdings Pte. Ltd., Singapore’s state-run investment fund, the company announced today.
Temasek’s 20% minority stake puts the company in unicorn status with a valuation of over $1 billion and represents its first institutional investment.
UST, led by Chief Executive Sajan Pillai, has more than 35 offices across the globe, providing everything from online technical support to cybersecurity solutions.
Temasek manages a $197 billion portfolio with most of its holdings in Asia.
UST, established in 1999, was in line to receive a $200 million investment last year from Carlyle Group in Washington D.C., but that deal never materialized.