Sum Technology buys INI stake

PETALING JAYA: Sum Technology Bhd has entered into a share sale agreement with INI-Concept Sdn Bhd to acquire a 51% equity interest in INI Technologies Sdn Bhd for RM2mil.

In a statement, the integrated turnkey solutions provider specialising in cleanrooms, controlled environments, and mechanical, electrical, process utilities and fire fighting (MEPF) said the acquisition will be funded entirely through Sum Technology’s internally generated funds.

“The proposed acquisition marks Sum Technology’s strategic expansion beyond its existing MEPF capabilities into the complementary field of intelligent security, monitoring and automation solutions.”

Upon completion, Sum Technology said it will gain immediate access to INI Technologies’ technical expertise, experienced personnel, customer relationships, operating infrastructure and established supplier and technology partner network.