LGMS to acquire 27% stake in Antarex for RM23mil

PETALING JAYA: Cybersecurity service provider LGMS Bhd is proposing to acquire a 27% stake in information technology company Antarex Holdings Sdn Bhd (AHSB) for RM22.68mil.

In a filing with Bursa Malaysia, LGMS said it is proposing to acquire the stake from AHSB’s co-founders and directors, Tan Soon Huat and Tan Pek Loon.

LGMS said the acquisition will unlock significant growth potential and synergies.

“In particular, LGMS will be able to leverage on AHSB’s regional market presence to introduce its award-winning cybersecurity solution, StarSentry to a broader client base across South-East Asia.

“AHSB will also stand to benefit from the proposed acquisition through the integration of StarSentry solution into its existing suite of cybersecurity solutions, which will potentially create a robust, comprehensive and unified cybersecurity defence system.”

LGMS noted that with the rapidly evolving technological ecosystem, there is a need to strengthen governance and oversight to manage the risks, which include, data privacy, cybersecurity threats, and ethical issues.