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Slideshow SingTel seeks more high-tech acquisitions in multimedia drive Tweet Share this Email Print Related News Samsung's challenge: keep the customer Thu, Sep 6 2012 REFILE-UPDATE 1-Samsung challenge: sold the phone, how to keep the customer Thu, Sep 6 2012 UPDATE 4-China Mobile H1 core profit slips, shares down 5 pct Thu, Aug 16 2012 Big retailers team up on mobile payments plan Wed, Aug 15 2012 Sony gears up for PlayStation Mobile launch this fall Tue, Aug 14 2012 Analysis & Opinion When hedge funds advertise SingTel Q1 profit beats estimates, sees stable FY earnings Related Topics Tech » Media » By Steven Scheer JERUSALEM | Wed Sep 12, 2012 10:48am EDT JERUSALEM (Reuters) - Singapore Telecommunications Ltd, the largest telecoms company in southeast Asia, plans to acquire more high-tech firms, including in Israel, as it transforms itself into a multimedia and information and communications technology company. "We are interested in investing in startups addressing major trends as well as the rise of social and local networks, mobile advertising and the increased need for systems that use smartphone applications," Allen Lew, chief executive of SingTel's new Digital Life unit, said at the annual High Tech Industry Association conference in Jerusalem. "Israel is an important part of our golden plans for the digital space. We will be making strategic acquisitions and we will be partnering with companies here," he said. SingTel in March bought Amobee Inc, an Israeli mobile advertising solutions firm, for $321 million. Lew said the company has a venture capital fund of S$200 million ($162.7 million) to invest in global start-ups. SingTel, the world's second-largest mobile operator behind China Mobile with 462 million customers in 26 countries, earlier this year set up a new structure to raise its presence in content and mobile applications as companies like Apple Inc grab more revenues from mobile phone users globally. Lew said the firm needs to enter into complementary partnerships with other telecoms groups to give SingTel the "best chance for continued success". One key focus for SingTel, he said, will be in television services and delivering more personalized and relevant but fewer choices to customers in developed countries after analyzing viewing behavior. For customers in emerging markets such as India and Indonesia who cannot afford TV at home, SingTel - which has 8 million pay TV subscribers - plans to provide TV services via smartphones. "In developing markets ... the mobile device is the only device they use to access the Internet and get information," Lew said. Another area of focus for SingTel is mobile advertising, where users can receive targeted offers and coupons while advertisers also reap financial benefits. Lew said SingTel must make changes since the largest telecom companies with deep pockets were creating new competition for digital services and trying to lure away its customers. ($1 = 1.2293 Singapore dollars) (Editing by Hugh Lawson) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. 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