Singapore – Singapore-based technology services group, TechCreate, and IT security and infrastructure solutions provider, Diginius, have announced a merger, to now become TechCreate Group. This was done via a share swap transaction that will value the enlarged fintech enterprise, at US$30m.
With a focus on powering the future of payments in Asia, TechCreate Group aims to provide cutting-edge innovation and technology capability to enhance value creation for its customers. This includes an expanded business scale with integrated solutions, which is having the capabilities to provide more comprehensive and integrated technology solutions related to payment and digitalisation platforms to serve new and existing customers across Asia.
Another capability of the merger is a strong potential to create new customer value propositions, which is the ability to broaden its reach and serve diverse customer segments with differentiated requirements and objectives, thereby creating the opportunity and potential to develop proprietary insights and innovative solutions that are aligned with the new trends of payments and digitalisation in Asia.
The current CEO of TechCreate, Lim Heng Hai, will be appointed as the group CEO of TechCreate Group, while the current CEO of Diginius, Ronald Vong, to be designated as the managing partner of TechCreate Group.
Commenting on the merger, Lim said that this is a transformational transaction for both companies, creating an enlarged company with end-to-end digital payment offerings in high-growth verticals as economies in Asia accelerate their digitisation roadmap.
“With our combined capabilities, it amplifies our mission to be a leading innovative, customer-centric and eco-friendly technology solution provider in Asia,” he added.
Meanwhile, Vong, commented that they are confident that the strengths of the combined company will enable meaningful growth to stakeholders, delivering new value and insights to better serve their markets and customers.
“At the same time, it can accelerate our growth and more effectively capitalise on our pipeline and broader market opportunities within the banking and financial industries in Asia,” said Vong.
