Malaysian digital ID software maker Innov8tif finds second buyer in a year

A struggling payments software company is planning an all-cash buyout of Malaysian ID verification provider Innov8tif.

Revenue Group, which is primarily focused on banking, says it will pay 36 million Malaysian ringgit (approximately US$8 million) for a 51 percent stake in holding company Innov8tif Holding. The company owns Innov8tif Solutions and Xendity, an ID verification company as well.

Just five months ago, another financially troubled Malaysian company, Hong Seng, bought 51 percent of Innov8tif for RM 30.8 million ($6.85 million). …

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