PETALING JAYA: Skygate Solutions Bhd is acquiring a 51% stake in Leader Range Technology (LRT) for RM10.71mil.
In a filing with Bursa Malaysia, Skygate said it had signed a share sale agreement with Ong Chee Fui, Kumpulan Modal Perdana Sdn Bhd, E&E Catalyst Sdn Bhd and E&E Catalyst II Sdn Bhd for the acquisition of 255,003 ordinary shares in LRT and 9,999,999 redeemable convertible preference shares in LRT.
“The acquisition is in line with Skygate’s long-term business strategy of expanding the group’s portfolio, enhancing operational capabilities and delivering increased value to Skygate’s shareholders.
“It serves to enhance Skygate’s market position and accelerate the group’s growth in the electrical and electronics sector.”
Skygate said LRT’s expertise in advanced software development, system integration, and innovative technology solutions complements Skygate’s existing portfolio, enabling the company to offer a broader range of services to an expanded customer base.
LRT’s principal activities include manufacturing high-tech products and quality engineering-related services and support.
They specialise in the fabrication of complex industrial automation systems, high precision machine parts and sheet metal fabrication. LRT also develops highly advanced functional test solutions that integrate innovative industrial automation into conventional functional test equipment and customised test fixtures.
