CTOS To Acquire Software Developer Juris Technologies For RM205 Million

CTOS Digital is ramping up its product offerings with the proposed acquisition of 49.0% equity interest in Juris Technologies, a software developer specialised in enterprise software for the financial industry.

In a Bursa filing, the credit rating company states that it has also raised its stake in BOL Thailand by another 2.25% for RM34.9 million.

On the acquisition, the purchase consideration for the proposed acquisition of Juris Technologies of RM205.8 million was arrived at on a “willing-buyer willing-seller” basis based on CTOS Digital’s equity valuation of the Group at RM420 million. The Purchase Consideration represents a price-to-earnings multiple of approximately 23.0 times based on the estimated consolidated profit after tax (“PAT”) for the financial year 2021.

CTOS Digital and Natsoft entered into a conditional share sale and purchase agreement for Juris Technologies. Juris Technologies was incorporated in 2003 principally engaged as a software developer awarded with a multimedia super corridor (“MSC”) status.

The software developer is a leading Malaysian-based fintech group of companies specialising in enterprise-class software solutions for banks, financial institutions, insurance and telecommunication companies. Juris Technologies provides a complete suite of integrated software solutions covering end-to-end credit lifecycle management. It has a strong entrenched market position in Malaysia and has customers based outside of Malaysia including, among others, Australia, United Arab Emirates, Singapore, and Brunei.

The Proposed Acquisition will allow both CTOS Digital and Juris Technologies to complement each other’s strength to bring a strong end-to-end digital lending solution proposition to the market by combining credit data, software and analytics services.

Both are looking to tap into each other’s strength in areas of customer synergies where they will be able to capitalise on the relationship and track record of respective customer bases to cross-sell each company’s solutions. This will allow CTOS Digital to penetrate a new customer base and increase wallet share in smaller accounts of existing customers.


Previous articleFirst Tsutaya Book Store To Open In Pavilion Bukit Jalil
Next articleKDEB Expects Taman Sri Muda Debris Cleared In A Week

LEAVE A REPLY

Please enter your comment!
Please enter your name here