KUALA LUMPUR, Dec 21 (Bernama) — Censof Holdings Berhad (“Censof” or the “Group”), a technology holdings company specialising in financial management software solutions, on 20 December 2021 announced that the Group has entered into a share purchase agreement to acquire a 51% equity interest in Cognitive Consulting Sdn Bhd (“CCSB”) for RM3.7 million with a profit guarantee scheme.
The purchase consideration of RM3.7 million was derived after taking into consideration the current average price-to-earnings multiple of 7.5 times and the average profit before tax for FYE2021 and FYE2022. The consideration is expected to be partially funded through the balance proceeds from the disposal of Dagang Nexchange Berhad shares back in August 2020 and internal generated funds.