Techna X Forms JV By Acquiring 51% Stake In Netsec To Target Cybersecurity Market

Techna-X Bhd and Netsec Sdn Bhd have announced a joint venture with the former acquiring a 51% stake in Netsec, in an effort to combine their expertise in digital ecosystems, energy storage and in cybersecurity solutions.

The cybersecurity landscape in Southeast Asia presents a dynamic and rapidly evolving market, with an estimated value projected to reach US$4.49 billion by 2024. This growth is driven by increasing digitalization, a surge in cyber threats, and a
growing awareness of cybersecurity’s importance across various sectors. The region’s diverse and expanding digital ecosystem, coupled with its unique challenges, offers immense opportunities for innovation and development in
cybersecurity solutions.

The JV it said is strategically positioned to capitalize on this growth, set new standards in cybersecurity and AI integration. advance cybersecurity technology solutions developed in Malaysia and strengthen Malaysia’s position as a leader in this critical field.

Tunku Naquiyuddin ibni Tuanku Ja’afar, Executive Chairman of Techna-X, expressed his confidence in the partnership, stating, “As Techna-X nears the completion of our multifaceted corporate exercise, which will see Techna-X being
recapitalized and strengthened, we are well-positioned to embark on this joint venture with Netsec, a distinguished leader in the cybersecurity industry.

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