KUALA LUMPUR (Aug 28): Digital solutions provider Pertama Digital Bhd (KL:PERTAMA) is looking to acquire a privately held system integration services and technical consultancy services provider, Kridentia Tech Sdn Bhd, in an all-shares deal. It did not disclose the transaction value.

In a filing with Bursa Malaysia on Wednesday, Pertama Digital said it has entered into a memorandum of understanding (MOU) with Kridentia Holdings Sdn Bhd for the proposed acquisition of its 59%-owned unit Kridentia Tech. Kridentia is owned by Datuk Abdul Rashid Mohd Ghani and Kwek Keng Chye, who in turn collectively hold the remaining 41% of Kridentia Tech.

The MOU will remain in force for six months.

Pertama Digital said the proposed acquisition sets forth clear, ambitious objectives for the company and Kridentia to drive the design, development, and enhancement of cutting-edge digital products and services.

"This partnership includes joint participation in government projects aimed at delivering impactful solutions for Malaysians. By combining their strengths in the digital space, the companies will significantly enhance their capabilities in introducing world-class digital banking products and impactful GovTech solutions," it added.

The proposed acquisition is conditional upon receiving approvals from Pertama Digital shareholders at an extraordinary general meeting to be convened.

Pertama Digital shares closed down one sen or 0.47% to RM2.14 on Wednesday, giving it a market capitalisation of RM937.77 million. The stock is down 19.25% year to date.