US$36m dollar Contract Awarded to Semnet6 Jun 2024 08:55
Quite an amazing aquisition to have pulled off by GST for just US$1.8m on 29 Feb 2024 (just 3 months ago), now how did they persuade Semnet to accept an offer of that value if they had a US36m contract in the bag already. Tony must be an awesome negotiator.
GST Corporate update 22 April 2024
Following the completion of the acquisition of 66.67% of the share capital of Semnet Pte Ltd ("Semnet"), a cybersecurity company based in Singapore, as announced by the Company on 29 February 2024, Semnet has been successfully integrated into the Group's operations. In addition to providing significantly enhanced cybersecurity support to the Group's operations, Semnet has been successful in winning additional third-party business, including a US$36 million revenue contract with Ypsilon Technology Pte. Ltd. Semnet is trading ahead of the GST Board's expectations and the business is achieving significant profitable growth.