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Datasonic Acquires 51% Stake in Innov8tif for RM40 Million
Nov 04, 2024•over 1 year ago
Contract Type
partnership
MalaysiaSecurity
Description
Datasonic has entered into a conditional share sale agreement with Revenue Group Berhad for the acquisition of 51% equity interest in Innov8tif Holdings for a total cash consideration of RM40.00 million. Innov8tif Group is focused on providing identity assurance solutions using AI-based ID assurance systems and low-code platforms. The acquisition will enable Datasonic to provide services across the identity assurance lifecycle and benefit from Innov8tif Group’s digital ID technologies and digital onboarding solutions.
Company Information
Company
Datasonic
Location
Malaysia
About
Datasonic is involved in producing identity and security documents, biometric equipment, and auto-gates mainly for the government of Malaysia.
MalaysiaSecurity