Techna-X Bhd is set to acquire a 51% stake in Netsec Sdn Bhd, an information technology (IT) firm, aiming to tap into the growing cybersecurity market in Southeast Asia. The collaboration aims to leverage the strengths of both companies, combining Techna-X’s expertise in digital ecosystems and energy storage with Netsec’s proficiency in cybersecurity solutions, as stated in Techna-X’s recent announcement.

The Southeast Asian cybersecurity landscape is dynamic and rapidly evolving, with an anticipated market value of US$4.49 billion by 2024. Factors such as increased digitalization, a rise in cyber threats, and growing awareness of cybersecurity’s significance across various sectors are driving this growth.

Tunku Naquiyuddin ibni Tuanku Ja’afar, the Executive Chairman of Techna-X, expressed confidence in the strategic alignment of their digital expertise with Netsec’s cybersecurity proficiency. He emphasized that the joint venture signifies not only timeliness but also a strategic collaboration between digital experts and seasoned cybersecurity professionals. Tunku Naquiyuddin ibni Tuanku Ja’afar believes that this partnership will usher in a new era of innovation and technology leadership, contributing to the advancement of Malaysia and the region in the cybersecurity digital domain.

Azman M. Azizi, the Managing Director of Netsec, sees the collaboration with Techna-X as a pivotal move to reach a broader market and capitalize on their combined digital expertise and market presence. Describing the joint venture as more than a partnership, Azman M. Azizi views it as a fusion of strengths that positions both companies to make a significant impact in the dynamic realm of cybersecurity. The collaboration is anticipated to bring about innovation and leadership in technology, strengthening their position in the cybersecurity sector.