Solsisnet Sdn. Bhd. signed conditional shares sale agreement to acquire 70% stake in DACS Network Solutions Sdn Bhd from Cloudaron Group Berhad (KLSE:CLOUD) for MYR 10.5 million on December 19, 2023.

As of March 31, 2023, DACS Network Solutions reported total revenue of MYR 17.9 million, Net income of MYR 0.96 million, and net assets of MYR 2.9 million. The deal is subject to due diligence review, regulatory approval and approval by board of directors and shareholders of Cloudaron and DATAPREP HOLDINGS. The deal is expected to be completed in the second quarter of 2024.

As of May 24, 2024, Cloudaron and DATAPREP mutually agreed to extend the conditional period of the SSA for a further 4 months up to and including 19 September 2024. As of May 29, 2024, Bursa Securities resolved to grant DHB an extension of time until 30 July 2024 to comply with the conditions.