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apple developer:Dataprep expands core business, buys 51% in RIDAA

admin2020-12-1392

In a filing with Bursa Malaysia, Dataprep said the acquisition would allow the group to capitalise on the investment in RIDAA, which is involved in the multimedia business, with favourable long-term prospects of this industry. KUALA LUMPUR: Dataprep Holdings Bhd is expanding its core business by adding the multimedia and communication segment into revenue stream, which is complementary in nature and would bring about synergistic benefits to the group. This was following a conditional share sale agreement signed between its subsidiary Solsisnet Sdn Bhd with RIDAA Associates Sdn Bhd’s shareholders Rohzan Abdul Rahman and Badrul Ilahan Abd Jabbar (vendors) to acquire 51% stake in RIDAA for RM3mil. In a filing with Bursa Malaysia, Dataprep said the acquisition would allow the group to capitalise on the investment in RIDAA, which is involved in the multimedia business, with favourable long-term prospects of this industry. “As such, the proposed acquisition will complement the group’s business direction and is expected to contribute positively to Dataprep’s future earnings, ” it added. Upon completion, RIDAA will become a 51%-owned subsidiary of Dataprep, while the remaining 49%in RIDAA will continue to be held by the vendors. — Bernama
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