DigiTech Holding to buy Singapore's Challenger Technologies for about $170 mln (updated)

Challenger Technologies

30/05/2023 12:01

(Adds details on deal in paragraphs 2-3)
       May 30 (Reuters) - DigiTech Holding proposed to acquire
Singapore's Challenger Technologies  CHAL.SI  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)
 ((Upasana.Singh@thomsonreuters.com;))