Techna-X to acquire 51% stake in IT firm Netsec

TheStar Wed, Jan 17, 2024 07:05pm - 3 months View Original

KUALA LUMPUR: Techna-X Bhd is acquiring a 51 per cent stake in information technology (IT) firm Netsec Sdn Bhd in a bid to capture growth in Southeast Asia’s cybersecurity space.

The exercise will see both entities combining their expertise in digital ecosystems and energy storage with Netsec’s in cybersecurity solutions, Techna-X said in a statement today.

It said the cybersecurity landscape in Southeast Asia presents a dynamic and rapidly evolving market, with an estimated value projected to reach US$4.49 billion (RM1=US$4.714) by 2024, driven by increasing digitalisation, a surge in cyber threats, and a growing awareness of cybersecurity’s importance across various sectors.

Executive chairman Tunku Naquiyuddin ibni Tuanku Ja’afar said Techna-X is well-positioned to embark on this joint venture with Netsec, a distinguished leader in the cybersecurity industry.


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