June 2026 | Top M&A deals in ASEAN

Nasdaq-listed All In FutureTech Alliance (AIFA) has agreed to acquire a 57.7% controlling stake in Singapore-based telecom infrastructure operator HyalRoute Communication Group in an all-stock transaction valued at USD 2.3bn. AIFA will issue new shares at USD 10 per share, implying a USD 4bn valuation for HyalRoute, with shares delivered in phases tied to asset-transfer milestones. The acquisition marks AIFA’s strategic shift toward AI-driven digital infrastructure, giving it access to HyalRoute’s extensive fiber-optic and submarine cable networks across Southeast Asia and supporting plans to expand into AI computing, data centers, and high-speed connectivity services.

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