(Reuters) – DigiTech Holding proposed to acquire Singapore’s Challenger Technologies in a deal that values the technology services provider at S$225 million (about $170 million), DigiTech’s financial adviser United Overseas Bank (UOB) said on Tuesday.
DigiTech will pay S$0.56 per share to shareholders of Challenger Technologies, representing a premium of about 1.8% to Challenger’s last close of S$0.55 on Monday
Shares of Challenger Technologies have fallen 11.1% so far this year. The company’s profit attributable came in at S$5.1 million for six months ended Dec. 31, as compared with S$8.4 million a year earlier.
($1 = 1.3245 Singapore dollars)
(Reporting by Upasana Singh in Bengaluru; Editing by Savio D’Souza)