KUALA LUMPUR: Genetec TECHNOLOGY [] Bhd is buying a 85% stake in US-based Systems South Inc for US$1.79 million (RM5.56 million) to expand into the fabrication and customised equipment solutions in the United States.
Genetec said on Monday, Jan 3 it was buying 80% of the equity interest in Systems South for US$1.68 million (RM5.23 million) and another 5%'' for US$105,500 (RM327,050) from the Horizon Presbyterian Church, Inc and Systems South director Jay Vaughan.
'With Systems South's existing business base, the Genetec Group will be able to expand System South's capabilities to offer a wider range of fabrication, engineering and customised automation solutions,' it said.
Genetec also said it would be able to leverage on Systems South's existing and future customer and product base and to develop new business opportunities for the group in Asia.
Genetec said on Monday, Jan 3 it was buying 80% of the equity interest in Systems South for US$1.68 million (RM5.23 million) and another 5%'' for US$105,500 (RM327,050) from the Horizon Presbyterian Church, Inc and Systems South director Jay Vaughan.
'With Systems South's existing business base, the Genetec Group will be able to expand System South's capabilities to offer a wider range of fabrication, engineering and customised automation solutions,' it said.
Genetec also said it would be able to leverage on Systems South's existing and future customer and product base and to develop new business opportunities for the group in Asia.
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