Elsoft to buy Xyrius for RM10mil

PETALING JAYA: Elsoft Research Bhd has inked a deal to buy Xyrius Solutions Sdn Bhd for RM10.1mil, to be satisfied with RM500,000 in cash and the balance RM9.6mil through the issuance of 16 million new Elsoft shares at 60 sen per share.

In a filing with Bursa Malaysia, Elsoft noted Xyrius was acquired from Ang Aik Beng and his wife Tan Hui Ien @ Tan Kui Yen, who each own 50% of Xyrius.

Xyrius is involved in the design and manufacture of automation machinery and industrial equipment for the medical device, semiconductor, consumer product and automotive industries.