Circles Global, a Singapore-based tech company supported by private equity giant Warburg Pincus, is considering selling its digital telecom service, Circles.Life, according to insider sources.
The company, launched in 2014, is working with a financial advisor to explore a deal that could value Circles.Life in the hundreds of millions of dollars. However, Circles Global plans to keep its software-as-a-service (SaaS) platform, which helps telecom operators create and run digital brands. Talks are ongoing, and no final decisions have been made, sources say.
Circles.Life, founded in 2016, operates as a mobile virtual network operator (MVNO), using M1’s network to offer voice, data, roaming, and international call services. Since its launch, Circles.Life has expanded to Taiwan, Australia, Indonesia, and Japan. The company now partners with telecom operators in 15 countries, positioning itself as a key player in the MVNO market. Other notable backers include Peak XV Partners (formerly Sequoia Capital India & Southeast Asia), EDBI, and Founders Fund.
MVNOs like Circles.Life are attractive acquisition targets for telecom companies globally, as they generate consistent cash flow and often operate in strategic markets. In Singapore, major telecom players include Singtel, StarHub, M1, and Simba Telecom, making Circles.Life a potentially valuable asset in the region’s competitive telecom industry.
This potential sale underscores the ongoing growth and consolidation in the telecom sector, particularly in the digital and SaaS spaces.
Source Bloomberg news