Digilife Technologies in talks on potential acquisition

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Digilife Technologies said Monday it is holding talks with the majority shareholder of a target company on a potential acquisition which may constitute a major transaction.

“The company had practised prudence and called for a trading halt to prevent any unusual trading activity. However, further discussions and negotiations with the seller are ongoing and no binding agreement has been entered into yet between the parties in respect of the proposed acquisition,” Digilife said in a filing to SGX Monday.

The trading halt was lifted before the start of trade Monday. The halt had been requested on 22 December.

Digilife Technologies, formerly known as Sevak, operates in Indonesia’s telecom segment, mainly as an authorized distributor of prepaid mobile cards for major telcos as well as selling mobile devices via its retail shops.

Digilife offers consultancy on maintenance and disaster recovery services as well as big data, networking and data hosting services. The company also manages a commercial electric-vehicle fleet in conjunction with ride-hailing service Grab, according to its website.

Shares of Digilife were flat at S$1.39 at 3:28 p.m. SGT.