Colin Ng & Partners LLP advised Silverlake Axis Ltd on acquisition of Silverlake Digital Economy Sdn Bhd, Silverlake Digitale Sdn Bhd and Silverlake One Paradigm Sdn Bhd

Colin Ng & Partners LLP (“CNP“) has advised mainboard-listed Silverlake Axis Ltd (“SAL”), a banking software solutions provider, on its acquisition of three Malaysian incorporated Silverlake private entities which was completed on 18 April 2018. This is part of its efforts to position itself as a fintech innovation accelerator and to enhance its current standing as the region’s leading and most successful core-banking solution provider. 

The three companies – Silverlake Digital Economy, Silverlake Digitale and Silverlake One Paradigm – are each 70 percent owned by the group’s executive chairman and controlling shareholder, Mr Goh Peng Ooi. The consideration for the acquisition comprises a fixed base consideration, totaling RM 154.9 million, to be satisfied via the issue of new shares at S$0.71 per shares, being a premium to the current market price, together with a variable performance-based earn-out consideration, wherein the aggregate consideration shall be capped at 25% of SAL’s market capitalisation, based on the agreed issue price, or slightly over RM 1 billion.

Partner, Mr Stephen Soh, assisted by Senior Associate, Ms Ge Xiaomeng and Associate Ms Jennifer Lo, advised SAL in this transaction.

 

For more information, please contact:

Gillian Chan

Corporate Communications Manager

Colin Ng & Partners LLP

DID: 6349 8756

Fax: 6323 8282

E-mail: [email protected]