PETALING JAYA: Accounting software specialist Censof Holdings Bhd received 100 per cent approval at its EGM today for the purchase of Asian Business Software Solutions Pte Ltd for RM29.98 million.
Censof, which had a joint venture deal with Singapore-based ABSS since last October, said the JV will cease to be in effect once the acquisition is completed.
The deal is being funded via borrowings of RM18 million and private funding to the tune of RM11.98 million.
The company said that although it is always on the lookout for opportunities in M&A, is currently not in talks with any other parties for additional acquisitions for the time being.