Ramssol Group Berhad has formalised a share sale agreement with Sagtec Global Ltd for the disposal of its 40% equity interest in Rider Gate Sdn Bhd. The transaction is valued at RM25 million and will be settled through the issuance of Sagtec consideration shares equivalent to the disposal sum.
Rider Gate, currently a wholly-owned subsidiary of Ramssol, is engaged in mobile applications, electronic commerce, and integrated information systems. The divestment marks a strategic step for Ramssol, aimed at enhancing Rider Gate’s commercial scalability.
According to Ramssol, the partial sale will enable the group to capitalise on Sagtec’s capital strength and operational expertise to fast-track the commercialisation of Rider Gate’s platforms and services.
The company stated that the proposed disposal aligns with Sagtec’s broader growth ambitions, allowing it to invest in a fully operational platform capable of immediate market monetisation. Furthermore, Sagtec’s core competencies in software development are said to complement Rider Gate’s technology demands. Ramssol added that Sagtec’s experienced team is adept at delivering tailored solutions, often initiated through comprehensive development blueprints such as white papers.
-The Star
