Subang Jaya, 16 February 2017 - Salcon Berhad today announced that its subsidiary Tanjung Jutaria Sdn. Bhd. (TJ) has entered into a Share Subscription cum Purchase Agreement (SSPA) and a Shareholders Agreement (SA) with Rayvn AS (Rayvn), Total Safety AS (TS), Enovate AS (Enovate) and Mr. John Rider Williams (JRW) to acquire and subscribe for a total of 918,182 shares in Rayvn representing 50.5% shareholding in the company.
The total consideration price of the acquisition is NOK 5.0 million (approximately RM2.5 million) which will be funded via internally generated funds.
Rayvn is in the business of developing and selling a web-based software solution for crisis management namely the Emergency Log Unit (“ELU”) which is a cloud-based dashboard for real-time management of incidents and emergencies.
“We are excited to further extend our involvement in this sector by acquiring majority stakes of Rayvn AS, via our subsidiary Tanjung Jutaria Sdn Bhd. With this collaboration, we look forward to expand the business not only in Europe, the US but also in the Asia regions as we believe that the market in Asia Pacific is very ready for such a tool.” says Thomas A. Sjøberg, Chief Executive Officer of Salcon Petroleum Services during the signing ceremony.
Ravyn, incorporated in Norway, specializes in crisis management software development and servicing clients with using its software product namely Emergency Log Unit (ELU) to manage the incidents in real-time communication and tasks delegation to the targeted audiences in bulk via mobile app and desktop. This ELU software will enable safety, security and emergency response teams to dispatch, track and coordinate their personnel as well as to maintain a robust and sustainable operational level throughout a challenging situation via web-system, a dedicated app or even SMS for real-time management of incidents and emergencies.
Its customer base includes event management, security companies and other companies and other organizations that experience critical and complex situation while running their operational activities.
“I am confident that this joint venture company will benefit customers in Malaysia and other regions by enabling a structured information sharing platform to keep the information up to date and for quick decision making.” says Thomas A. Sjøberg, Chief Executive Officer of Salcon Petroleum Services during the signing ceremony.
The signing ceremony was graced by the presence of His Excellency, Mr Hans Ola Urstad, the Ambassador of Norway to Malaysia.