There has been some speculation about Telstra stepping into the financial services sector. This expected move has been confirmed, with the company investing heavily in enepath, a Singapore-based voice-telecommunications technology company that mainly does business with trading room clients. Market analysts take this as a confirmation of Telstra’s increasing focus on including the financial services sector to its services portfolio.
While Telstra did not state the exact value of the investment, market analysts put the investment at upward of US$ 10 million but lower than US$15 million. With the latest deal, Telstra, besides being an enepath investor, will also be entering into a commercial business partnership with the company. Telstra, through this partnership, will use enepath’s IP trading platform.
According to Matthew Lempriere, who heads Telstra’s global financial services division, the company’s growth plans for this particular division were progressing ‘at pace’. He said that in the next few months, the company will continue to build upon its global as well as domestic capabilities to make its presence felt in the financial services domain
For enepath, the new investment boost from Telstra will support its scaling-up plans, said Stepehn Phillips, the company’s chief executive. He said there has been a higher demand for its voice-telecom technology from various global traders. Phillips said that with the new investments in place, enepath will also be working on developing new products as well as creating cutting-edge applications and solutions for desktops
While Telstra has registered a presence in Asia for several years now, but in 2014, the company’s former CEO had said that the company is targeting offshore markets to earn at least one third of all its revenue. This directly indicates the company’s growing interest in the Asian markets.