Ax­i­ata buys Su­vitech stake for US$11.05m

New Straits Times - - Business -

KUALA LUMPUR: Ax­i­ata Group Bhd is ac­quir­ing a 65 per cent stake in Thai­land­based Su­vitech Co Ltd for US$11.05 mil­lion (RM47.96 mil­lion). The com­pany said its unit, Ax­i­ata Busi­ness Ser­vices Sdn Bhd (ABS), had en­tered a share sale and pur­chase agree­ment yes­ter­day for the cor­po­rate ex­er­cise. “The pro­posed ac­qui­si­tion of Su­vitech is both strate­gic and syn­er­gis­tic for ABS as Su­vitech’s plat­form is a plug and play so­lu­tion for ABS en­ter­prise and In­ter­net of Things busi­ness in Thai­land,” it said. Agen­cies

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