Hati International, a healthcare information systems provider in Malaysia, focuses on software development and information technology. With this strategic acquisition, MobilityOne aims to diversify its current business activities and take advantage of numerous synergistic benefits. The company plans to integrate its electronic payment systems and services with Hati's comprehensive suite of products supporting various payment methods such as credit cards, debit cards, and eWallets.
The acquisition will be carried out in two tranches, with an initial payment of MYR2.0 million due shortly, and the remaining amount to be paid by March 8.
"I am confident in the synergistic benefits that will result from this proposed acquisition and Hati's promising future in the healthcare information systems industry," said Chief Executive Dato' Hussian A. Rahman.
In other news, MobilityOne reported a 7.2% year-on-year increase in first-half revenue, reaching GBP121.5 million ($148.3 million). This growth was driven by higher sales in its mobile phone prepaid airtime reload and bill payment business in Malaysia. However, the company's pretax profit decreased to GBP5,914, compared to GBP522,561, primarily due to higher sales costs, administration expenses, and finance costs.