PTT Synergy Group Bhd’s indirect subsidiary has entered into an agreement to acquire the intellectual property rights to a suite of warehouse and logistics management software for US$7.11 million (approximately RM30 million), strengthening its regional automation and digital logistics capabilities.
PTT said PTTR, which is 70%-owned indirectly by the group, signed a Software Acquisition Agreement and three supplemental agreements with vTradEx Information Technology (Shanghai) Co., Ltd. (VTRADEX) on July 17.
Under the agreement, PTTR will acquire full legal and beneficial ownership, including all intellectual property rights, to four logistics software platforms for deployment across 11 Southeast Asian markets.
The software package comprises a Warehouse Management System (WMS), Warehouse Execution System (WES), Transportation Management System (TMS) and Yard Management System (YMS).
The software rights cover operations in Brunei, Cambodia, Timor-Leste, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
The acquisition consideration will be paid entirely in cash, subject to the terms and conditions of the agreement.
