KUALA LUMPUR (April 9): Cybersecurity firm LGMS Bhd (KL:LGMS) has proposed to acquire an equity stake — at a price and size yet to be determined — in Antarex Holdings Sdn Bhd, as part of its strategy to expand its footprint across Southeast Asia.

Antarex offers advanced cybersecurity platforms such as XNI (Extended Network Intelligence), DarkShield, and XOR (Extended Operations and Response) for real-time threat detection and automated responses.

In a filing with Bursa Malaysia on Wednesday, LGMS said it had signed a memorandum of understanding with cybersecurity company Antarex and its major shareholders, Tan Soon Huat and Tan Pek Loon, for the proposed acquisition. The deal is still subject to final terms and negotiations.

According to LGMS, the collaboration will allow the group to leverage Antarex’s regional market presence to promote its proprietary cybersecurity device known as StarSentry, to a broader client base.

Antarex will also benefit by integrating StarSentry into its existing cybersecurity solutions. 

StarSentry, launched in June 2024, is a plug-and-play device that autonomously scans networks for vulnerabilities and threats in real time.

Both companies will explore further product development and cross-selling opportunities in Malaysia and the region. The acquisition, if finalised, will be formalised in a share sale agreement within six months.

As at the midday break on Wednesday, shares of LGMS were 1.5 sen or 1.82% lower at 81 sen, valuing the group at RM367.28 million.