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aws试用账号( to acquire 49% stake in JurisTech for RM205.8mil cash



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From left: Juris Technologies Sdn Bhd chief operating officer Naaman Lee, Juris Technologies CEO See Wai Hun, CTOS Digital Bhd deputy group CEO Eric Hamburger and CTOS group CFO Garris Chen.

KUALA LUMPUR: CTOS Digital Bhd has proposed to acquire a 49% stake in fintech specialist JurisTech (Juris Technologies Sdn Bhd) for RM205.8mil cash.

This is the group’s largest-ever acquisition since its inception.

In a statement Friday, CTOS said it had entered into a conditional share sale and purchase agreement for the proposed acquisition of 49% equity interest in JurisTech from Natsoft (M) Sdn Bhd, the holding company controlled by JurisTech’s founders, pending the approval of CTOS Digital shareholders in the upcoming extraordinary general meeting (EGM).

JurisTech is a fintech company that specialises in enterprise-class software solutions for banks, financial institutions, insurance, and telecommunication companies.

CTOS deputy group chief executive officer Eric Hamburger said its acquisition in JurisTech would allow both companies to complement each other’s strength to bring a stronger end-to-end digital lending solution proposition to the market by combining best in class credit data, software solutions and analytics services, subsequently establishing ourselves as a one-stop-solution for financial institutions.

“Our partnership is also well positioned to address the new emerging opportunities in the digital lending space, as we seek to co-develop various new and unique propositions to cater to the needs of these customers, including digital banks, peer-to-peer, buy-now-pay-later and micro/pay-day loans providers,” he said.

“There will also be many customer synergies, leveraging on the relationship with our respective customer bases to cross-sell each company’s solutions and elevate our existing solutions.

“This would help both companies to penetrate new clientele as well as increase the wallet share of existing customers,” he added.

The acquisition is expected to be completed by the first quarter of 2022.

To fund the acquisition exercise, CTOS plans to undertake the private placement of new shares, representing up to 10.0% of the current 1.1 billion outstanding shares, pending shareholders’ approval in the same EGM.

The group will also explore bank borrowing options if necessary.



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