CTOS Digital Berhad (KLSE:CTOS) entered in an agreement to acquire 4.625% stake in RAM Holdings Berhard from CIMB Bank Berhad for MYR 10.5 million on July 29, 2021. As part of the acquisition CTOS Digital will acquire 462,500 ordinary shares. The Purchase Consideration for the Proposed Acquisition shall be wholly satisfied by the cash proceeds raised for new acquisitions from the recent Initial Public Offering exercise. Both companies are expected to benefit from the partnership from the potential synergies in both product offerings and customer base. In financial year 2020 (“FY2020”), RAM generated revenue of MYR 40 million and profit after tax of MYR 8.4 million. RAM has total assets of MYR188 million and has net assets of MYR 167.2 million. The completion deliverable due by CTOS is the resolution of CTOS board of directors authorizing the execution of the SPA and for CTOS to pay for the Purchase Consideration. CTOS Digital Berhad (KLSE:CTOS) completed the acquisition of 4.625% stake in RAM Holdings Berhard from CIMB Bank Berhad on July, 2021.