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Karin Technology forms JV with Hong Kong tech firm
KARIN Technology Holdings Limited has inked an agreement to form a joint-venture company with Masterson Technology Limited in Hong Kong.
On Thursday, mainboard-listed Karin said that the partnership will see the engagement in cloud-related technology services and the hosting of cloud solutions for corporations and enterprise customers.
Karin will hold 20 per cent of the new joint-venture company, MasterKloud Technology Limited, with the remaining shares held by Masterson.
"The incorporation of MasterKloud comes at a time when cloud services are increasingly becoming important to enterprises and corporations due to the explosion of data, IoT (Internet of Things), mobile devices and a significant growth in cloud-born applications," Karin said.
Karin's executive chairman Raymond Ng said: "With the rapid pace of transformation of the industry as well as higher acceptance of cloud solutions within the traditional enterprise space in Hong Kong, we envisage that MasterKloud will successfully leverage the expertise of both Karin and Masterson to have an advantage over its competitors by offering the most comprehensive value-added solutions to corporate customers of all sizes through our channel sales teams and technically equipped engineers."
Karin closed unchanged at S$0.32 on Thursday.