Singapore investors at Temasek grab an $800M stake in Google’s Verily
Singapore-based Temasek is sinking $800 million into Verily, Google’s life sciences division which has set out to commercialize new products globally.
Most of that money will land in Q1, with the rest coming before the end of the year. In exchange, Temasek is gaining a minority stake in Verily and will be dispatching a new board member to represent its interest.
The investment company has a $242 billion portfolio with interests that cover a broad range of fields, including life sciences, specially focused on emerging markets. Now it will collaborate with Verily on its global marketing plans.
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