US fintech giant FIS acquires payment firm Worldpay

PARIS, March 18 ― US financial technology giant FIS will acquire British payment processing company Worldpay for an estimated US$43 billion (RM175.3 billion), the two firms said today, creating an international payments powerhouse. The…

Ekuinas acquires 40% stake in Exabytes for RM44m

PETALING JAYA: Ekuiti Nasional Bhd (Ekuinas) has acquired an initial 40% stake in web hosting and cloud service provider Exabytes Capital Group for RM44 million, with an option to raise its stake up to 54%.

Ekuinas CEO Syed Yasir Arafat Syed Abd Kadir said Ekuinas it broadening its footprint in the services industry and in accordance with its mandate, it is investing in and nurturing high-potential local companies that are ready to scale and compete regionally, if not globally.

“Exabytes is a prime example of a company that has the platform to be a regional leader that can position Malaysia as a hub for business and talent. Through Exabytes, Ekuinas will be able to capitalise on the booming internet economy globally, which is currently valued at US$3.5 trillion,” he said in a statement today.

He said the stake acquisition in Exabytes is Ekuinas’ second investment in technology services and it is optimistic of the company’s prospect as an enabling technology business.

“Exabytes is a dominant player in three markets and has delivered consistent historical financial performance and customer growth every year. Given its strong, experienced and founder-led senior management team, we are confident that Exabytes will continue on its growth trajectory with the global market for hosting expected to grow at 9% annually driven by increasing internet penetration and digitalisation of businesses.

“We look forward to working with a high potential Malaysian entrepreneur to share his vision in taking the company to the next phase of growth,” he added.

Launched in 2001, Exabytes is one of the leading multi-market web hosting companies in Southeast Asia and serves more than 100,000 customers ranging from individuals, small to medium-sized enterprises (SMEs), public listed companies and government agencies.

The company was founded on the principle of helping SMEs grow their businesses online. It has a market share of nearly 30% in Malaysia and an 18-year track record of strong service, and is expected to scale in line with the growth of the industry.

As part of the company’s long-term plan, Exabytes has been rapidly expanding regionally through merger and acquisitions over the last three years, which enables it to grow its business in different segments in the respective markets.

Exabytes founder and CEO Kee Siak Chan said it will accelerate its plans to continue building the company and advancing its business into new markets across the Southeast Asian region with support from Ekuinas.

“We will be improving on our hyper-local approach to services, technology and marketing. This approach has worked well and brought us to where we are today as one of the leading cloud companies in the region with data centres in multiple countries with strong local support teams.

“We will be leveraging on our brand premium, especially in Indonesia to drive customer acquisition through marketing and upselling higher value services, as well as expanding our capabilities and offerings into cloud and digital marketing to further beef up our end-to-end web solutions,” said Kee.

JAG Capital acquires 32% stake in KUB from Anchorscape, emerges as new substantial shareholder

PETALING JAYA: KUB Malaysia Bhd, which was halted for trading for an hour this morning, has seen the emergence of a new substantial shareholder JAG Capital Holdings Sdn Bhd.

JAG Capital became a substantial shareholder of KUB following the acquisition of 178.07 million shares from Anchorscape Sdn Bhd last Friday. JAG Capital now holds a 31.99% stake in KUB after the transaction.

At 11am, KUB rose 15.19% to 45.5 sen against 40 sen last Friday with 17.03 million shares changing hands.

In January, KUB claimed that it was unaware of the reason behind the spike in its share price after it was issued an unusual market activity query.

AT Systematization acquires 9% stake in Trive Property

PETALING JAYA: AT Systematization Bhd’s (ATS) unit AT Precision Tooling Sdn Bhd (ATP) has subscribed 213.3 million placement shares of Trive Property Group Bhd equivalent to a 9.09% stake for RM2.92 million cash or 1.37 sen per share.

ATS told the stock exchange that the placement price represents a 9.87% discount to the five-day volume weighted average price of Trive shares of 1.52 sen.

Trive’s share price closed half a sen or 25% lower at 1.5 sen last Friday on 502,200 shares done, while ATS shares were unchanged at 5 sen with 1,000 shares changing hands.

Listed on the Main Market of Bursa Malaysia, Trive and its subsidiaries are principally involved in the trading of solar panels and related products as well as property development, construction and property development.

ATS said the group intends to look into opportunities to capitalise on the new relationship with Trive, including the potential of sourcing solar panels and certain solar products for periodic maintenance of its existing solar photovoltaic plants or for future expansion/construction of additional solar photovoltaic plants.

“This will help to support its plan to expand its solar energy business in the future and the group may look to Trive for the supply of solar panels and related products at reasonable pricing to support the construction of new solar photovoltaic plants,” it added.

Facebook’s data gathering hit by German anti-trust clampdown

BONN, Germany, Feb 7 — Germany’s antitrust watchdog ordered a crackdown on Facebook’s data collection practices after ruling the world’s largest social network abused its market dominance to gather information about users without their…

Google acquires Fossil smartwatch tech for US$40m

SAN FRANCISCO, Jan 18 ― Google agreed to pay US$40 million (RM164.5 million) for the smartwatch technology of the fashion and accessory group Fossil, the companies said yesterday, enabling the California tech giant to expand in the growing…

Rev Asia acquires 25pc stake in Chinese news portal

KUALA LUMPUR, Jan 2 ― Media Prima Digital Sdn Bhd’s (MPD) unit, Rev Asia Holdings Sdn Bhd, has acquired a 25 per cent stake in Monster Scape Sdn Bhd, the owner and publisher of Chinese language social news portal, TanTanNews. As part…

Petronas acquires 10 per cent stake in Block 61 onshore Oman

KUALA LUMPUR: Petronas, through its subsidiary, PC Oman Ventures Ltd (PCOVL), acquired a 10 per cent stake in Block 61, onshore Oman from Makarim Gas Development LLC (MGD), a subsidiary of Oman Oil Company Exploration & Production LLC (OOCEP), after the conditions for the completion of the transaction were fulfilled. The completion of the transaction […]

Petronas acquires 10pc stake in Oman’s al Khazzan gasfield

KUALA LUMPUR, Dec 29 — Petroliam Nasional Bhd (Petronas), through its subsidiary PC Oman Ventures Ltd, has acquired a 10 per cent stake in Block 61 of Oman’s Al Khazzan gas field from Makarim Gas Development LLC. Makarim Gas is a subsidiary of…

Sunway REIT acquires properties worth RM550m

KUALA LUMPUR, Dec 24 — Sunway Real Estate Investment Trust (Sunway REIT) has acquired lands and buildings worth RM550 million from Sunway Destiny Sdn Bhd, a wholly-owned subsidiary of Sunway Bhd. The acquisition include three parcels of leasehold…