Hospitality software solutions provider Sagtec Global has signed a definitive agreement to purchase a 40% equity interest in Malaysian restaurant operator Malaya Heritage Holding.
Focusing on heritage-style cuisine, Malaya Heritage currently operates three outlets and is working on plans to scale up its restaurant network, enhance operational capacity and widen its market coverage.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The restaurant operator also intends to pursue a public listing next year, subject to market conditions, corporate readiness and regulatory approvals.
In a statement, Sagtec said the deal creates a “strategic partnership” between the two companies. It will also enable the rollout of Sagtec’s technology solutions across Malaya Heritage’s operations.
Malaya Heritage Holding director Woon Kok Pin said: “We are delighted to welcome Sagtec as our strategic partner.
“This partnership strengthens our preparation for our future capital market plans and positions us for continued expansion.”
The investment forms part of Sagtec’s broader strategy to develop an integrated F&B [food and beverage] technology ecosystem.
It is targeting equity partnerships with operating restaurant businesses that can adopt and integrate its proprietary digital platforms.
According to Sagtec’s board, the partnership is expected to allow the rollout of its Speed+ smart ordering platform, AI-based software-as-a-service tools and digital payment offerings across Malaya Heritage’s restaurant network.
Based on current internal assumptions and business plans, Sagtec estimates the transaction could bring in approximately $4m in potential revenue for the group.
These anticipated revenues are projected to come from software subscription charges, technology implementation and licencing, digital ordering and transaction-related services, AI-enabled business tools and operational support offerings.
Further contributions are expected from Malaya Heritage’s planned expansion and that of its subsidiaries.
Sagtec Global chairman, executive director and CEO Ng Chen Lok said: “This acquisition represents an important milestone in our strategy to build a technology-enabled F&B ecosystem.
“We are not only investing in a growing restaurant group, but also creating opportunities to deploy our technology solutions at a larger scale, expand recurring revenue streams and strengthen our presence within the food and beverage sector.”
