PTT Synergy's Unit to Acquire Logistics Software for Over $7 Million

MT Newswires Live

07/20

PTT Synergy's (KLSE:PTT) 70%-owned subsidiary, PTT Robotics, signed a software acquisition agreement via TradEx Information Technology (Shanghai), to acquire all legal and beneficial ownerships, along with intellectual property rights, in a suite of logistics software for $7.1 million.

The acquired software portfolio comprises several management systems deployed across 11 countries, according to a Friday filing with the Malaysian Exchange.

The consideration will be funded through a combination of internal funds and bank borrowings, with the company looking to transform itself into a one-stop integrated logistics solutions provider.

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