Malaysia rules out $2.37 billion takeover of passport supplier
The Malaysian government has officially ruled out a $2.37 billion acquisition of Datasonic Technologies, a key supplier of national passports and ID cards. The decision follows a period of corporate uncertainty surrounding Datasonic's parent company, NexG, and ongoing government efforts to secure national identity infrastructure.
Why it matters
The decision impacts national security infrastructure and the stock market stability of the involved technology firms.
Datasonic Technologies holds contracts to supply passports and IDs to the government through 2032.
Listen Summarise Malaysia's government has ruled out a RM7.5 billion (S$2.37 billion) takeover of Datasonic Technologies, the supplier of passports and national ID cards. Datasonic holds contracts worth about RM2.46 billion to supply passports and IDs until 2032, and its sale could impact NexG's business and stock listing. NexG faces a corporate dispute involving an alleged hijacking attempt, while the government continues to seek ways to protect citizens' identity security and public spending value. AI generated
KUALA LUMPUR – Malaysia’s government has ruled out a potential acquisition of Datasonic Technologies, which supplies the country’s passports and national identity cards.
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