Recomm Co., Ltd. (TSE:3323) agreed to acquire 65% stake in Taknet Systems Pte Ltd from Tan Ah Kaw, Tan Yew Khim And Chen Mengjie for SGD 10.3 million on June 25, 2024. The consideration consists of common equity of Recomm Co., Ltd. having a value of SGD 10.34 million to be issued for common equity of Taknet Systems Pte Ltd. As part of consideration, SGD 10.34 million is paid towards common equity of Taknet Systems Pte Ltd.

The expected completion of the transaction is July 5, 2024.