PETALING JAYA: Cashless payment solutions provider Revenue Group Bhd has proposed to acquire a 40% stake in Wannatalk Malaysia Sdn Bhd (WMSB) for RM5mil cash.
In a filing with Bursa Malaysia, Revenue Group said its wholly-owned subsidiary Revenue Harvest Sdn Bhd (RHSB) had entered into a share sale agreement with Tan Sze Hoo for the acquisition of 6,000 ordinary shares in WMSB, representing 40% equity interest in WMSB for RM5mil.
Upon completion of the proposed acquisition, WMSB will become a 40% owned subsidiary of RHSB and an indirect subsidiary of Revenue.
WMSB is principally engaged in the provision and development of facial recognition-centered products and services, AI-powered smart content repository, AI-powered big data mining and fraud detection software and AI-powered chatbot and messaging platform.
Revenue managing director and group CEO Eddie Ng Chee Siong (pic) said this acquisition would provide a niche for Revenue and further enhance the payment security feature, which is important in the payment industry.
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