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 firefighting (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.

“By combining its physical engineering infrastructure capabilities with INI Technologies’ expertise in electronic security, video surveillance and analytics, access control and automation, the group intends to broaden its range of integrated solutions for industrial, commercial and mission-critical facilities.”

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.

It said this would provide an operating platform for the group to develop the acquired business while creating opportunities for cross-selling of complementary solutions across both companies’ customer bases.

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