KUALA LUMPUR (Feb 8): Techna-X Bhd (formerly known as Sino Hua-An International Bhd) is acquiring a 25% stake in telco-media company MBits Digital Sdn Bhd for RM12.5 million in a bid to expand its digital transformation solutions offerings.
In a statement, the company said it had entered into a share purchase agreement with MBits founder and chief executive officer Saraleena Nattaya Azmi for the acquisition of 10 million shares, representing a 25% equity stake in MBits.
Techna-X said it intends to leverage MBits’ licenses, product, and service offerings to improve its efficiencies.
MBits is an Internet Protocol TV station operator and a digital platform content creator. The company is the only company holding a full broadcasting licence as well as licences for the full telco spectrum in Malaysia, according to Techna-X.
“MBits offers tremendous synergies with Techna-X’s digital transformation strategy. Techna-X has a clear objective of being the leading digital transformation company in Malaysia.
“Digitising means having internet access coverage nationwide so that services can be provided through digital platforms including merchants, banking, content viewing and so on. These require infrastructure development ranging from fibre optics to mobile network,” said Techna-X executive director Datuk Jared Lim.
Lim added MBits’ business can complement Techna-X’s rolling out of its smart city model in various townships and cities, as well as its IoT solutions.
Techna-X shares closed unchanged at 13.5 sen, giving it a market capitalisation of RM207.62 million.
Edited by Tan Choe Choe