Kul Bhushan · · 1 min readSingapore-listed VCPlus to acquire technology consultancy firm for $3.7m
VCPlus Limited is acquiring Singapore-based technology consultancy firm APEC Solutions and its subsidiaries for S$5 million (US$3.7 million).
APEC Solutions focuses on areas including enterprise software, ecommerce, digital marketing, blockchain, and fintech development. The company also advises companies on licensing and grant requirements and applications in Singapore.
Photo credit: wirojsid / 123RF
Under the deal, Singapore-listed VCPlus will take over APEC Solutions’ technology team as well as its existing partnerships with blockchain solution companies.
VCPlus also highlighted its announcement in April that it would diversify its core business in technology and other categories including advisory, consultancy, and management services related to fintech regulation and licensing.
“This acquisition allows VCPlus to grow its capabilities to serve the growing blockchain and fintech sector. According to KPMG, global fintech investments increased from US$87 billion in second half of 2020 to US$98 billion in first half of 2021,” said VCPlus CEO Clarence Chong Heng Loong in a statement.
Currency converted from Singapore dollar to US dollar: US$1 = S$1.35.
Editing by Collin Furtado and Eileen C. Ang
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