Systech Bhd (KLSE:SYSTECH) entered into a conditional share sale agreement to acquire 80% stake in Talentcloud.ai SDN. BHD. from Dato' Hooi Jia Hao for MYR 14.4 million on February 13, 2023.

As per the transaction, Systech Bhd will acquire 0.24 million shares of Talentcloud.ai SDN. BHD. As on June 30, 2022, Talentcloud.ai SDN.

BHD. generated revenues of MYR 1 million and net income of MYR 0.23 million. Transaction is subject to approval from acquirer board and shareholders as well as Due diligence investigations.

As of April 10, 2023 Systech Bhd's shareholders approved the transaction.