DeClout, Acclivis to buy ISP licence holder

Singapore

SGX-Catalist listed DeClout, along with its wholly owned subsidiary Acclivis Technologies and Solutions, on Tuesday announced that it has entered into a proposed agreement to acquire OSINet Communication, which owns a local ISP (Internet Service Provider) licence in Singapore.

Under the terms of the proposed agreement, DeClout and Acclivis will pay S$14.2 million for a 100 per cent stake in OSINet. This will be done through the issuance and allotment of DeClout shares.