Innov8tif’s Xendity buy in line with global growth

Law says the merger would allow the company to expedite its customer ID assurance product roadmap.

PETALING JAYA: Earlier last week, a minor development took place in the e-know-your-customer (e-KYC) space, but the deal could be laying the foundational blocks for a local player to strengthen itself in this particular sphere.

A local private technology player called Innov8tif Holdings Sdn Bhd announced it is in the process of purchasing the full equity stake of Xendity Sdn Bhd (Xendity), a wholly owned subsidiary of listed company Green Packet Bhd, for a cash consideration of RM17.5mil.