DeClout acquires shares in unit Corous360 for S$7.36m

Singapore

DECLOUT Ltd, an information and communications technology provider, said it has acquired about 520,000 new ordinary shares of its subsidiary Corous360 for S$7.36 million, shoring its interest in the subsidiary back up to a 100 per cent.

These shares were supposed to have been allotted and issued to JTech Mobile Ltd as part of Corous360's payment for its S$4.72 million acquisition of Netipay Pte Ltd, a Singapore-incorporated firm that will evolve into a mobile cloud platform and proprietary payment processing service provider comprising Indonesia-based PT Max Interactives Technologies and Matrix Treasure Ltd incorporated in British Virgin Islands.