Invacom acquires Tactilis for $200m
29 October 2018 16:09 GMT

Satellite communications equipment provider Global Invacom Group has revealed plans to acquire Malaysia-based security biometrics group Tactilis for $200m.

Tactilis's touch management system could capture fingerprints and also manage facial and iris recognition.

Global Invacom would initially subscribe for convertible notes worth $2.0m for a 2% stake in Tactilis. It would later acquire the remaining 98% stake by issuing 1.8bn shares priced at 15 Singapore cents per share.

Global Invacom also had an option to subscribe for another $8.0m worth of convertible notes for an additional 8% stake.

'The current satellite communications equipment business remains profitable and will remain an important activity of the group even after the proposed acquisition,' executive chairman Tony Taylor said.

'Through the proposed acquisition of Tactilis, we can venture into the high-growth, high-tech biometrics security industry.'

'The fit between the two companies is synergistic as Tactilis will be able to achieve faster go-to-market because of Global Invacom's existing manufacturing and marketing footprint as well as our access to global capital markets.'