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CATALIST-LISTED Secura Group has entered into a memorandum of understanding (MOU) to buy 100 per cent of cybersecurity provider RedSentry and RedSentry Consultancy, a management consultancy business.
The company said that the businesses will allow it to expand its cybersecurity offerings and enlarge its market share in Singapore.
The MOU is not legally binding and any definitive sale and purchase agreement (SPA), due within three months, is subject to due diligence and relevant approvals.
Secura mainly makes its revenues from providing security guard services as well as printing cheques and passbooks. It is aiming to grow its cybersecurity products distribution business.
Secura closed trading on Monday at S$0.184, up S$0.003 or 1.7 per cent, before the announcement.