Secura Group announced wholly-owned subsidiary Soverus Technology (STPL) has entered a sale and purchase agreement with Red Sentry (RPL) and Red Sentry Consultancy (RCPL) on Thursday, to acquire a 100% stake in the companies for a total consideration sum of $2.7 million.
Earlier this year on March 15, the group signed a memorandum of understanding (MOU) with RPL and RCPL to acquire 100% of the issued share capital of both companies.
The Red Sentry group of companies are providers of cyber-security solutions services, secure cloud solutions, and enterprise security and compliance solutions. Ong Hock Ling, Yew Lea Tiang Annie and Ng Chiang Chui have been named as vendors of the shares.
Secura stated that it believes the cyber security business of RPL will “complement and further boost” its existing cyber security business, enabling it to expand its offerings in this respect and enlarge its market share in Singapore. The group’s directors believe this acquisition will “create synergies within the group”, says Secura in its filing on Friday.
For the financial year ended March 31, RPL reported a book value and net tangible asset value of approximately $1 million, with a net profit after tax of about $292,000.
Secura shares last traded at 17 cents on Thursday.
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Earlier this year on March 15, the group signed a memorandum of understanding (MOU) with RPL and RCPL to acquire 100% of the issued share capital of both companies.
The Red Sentry group of companies are providers of cyber-security solutions services, secure cloud solutions, and enterprise security and compliance solutions. Ong Hock Ling, Yew Lea Tiang Annie and Ng Chiang Chui have been named as vendors of the shares.
Secura stated that it believes the cyber security business of RPL will “complement and further boost” its existing cyber security business, enabling it to expand its offerings in this respect and enlarge its market share in Singapore. The group’s directors believe this acquisition will “create synergies within the group”, says Secura in its filing on Friday.
For the financial year ended March 31, RPL reported a book value and net tangible asset value of approximately $1 million, with a net profit after tax of about $292,000.
Secura shares last traded at 17 cents on Thursday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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