Malaysia’s Green Packet to buy e-KYC specialist startup Xendity in $10m deal

Malaysia’s listed telecom and tech firm Green Packet Bhd said Tuesday it has entered a term sheet with Singapore-based software technology startup Xendity to acquire the entire paid-up share capital of the company.

The acquisition will be satisfied through cash amounting to $1.5 million and the remaining $8.5 million via the issuance of new ordinary shares in Green Packet at an issue price to be determined later, the company said in a regulatory filing.