Vetece Enters Enterprise AI Through MYR1 Million Acquisition

MT Newswires Live

Aug 07

Vetece (KLSE:VTC) will acquire AI Tech Cloud for 1 million ringgit in cash, according to a Friday filing with the Malaysian bourse.

The company also plans to inject up to 2 million ringgit into the startup as it expands into enterprise artificial intelligence.

AI Tech, incorporated in September 2024, develops enterprise AI platforms and intelligent automation solutions but has yet to commence commercial operations.

Vetece said the acquisition will establish a dedicated AI business.

The deal will be funded through internally generated funds and is expected to be completed within 30 working days.

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