Sattrix and Cloud IOT Form Joint Venture to Drive Cybersecurity and Digital Transformation business

• 19 Nov 2024
• TM Team
• 0 Comments

Sattrix Information Security Limited , a leading IT and cybersecurity solution provider, and Malaysia-based Cloud IOT (later renamed as Nimbus Cloud Sdn.Bhd) have signed a Memorandum of Understanding (MOU) to form a joint venture focused on delivering advanced cybersecurity and IT transformation solutions across Southeast Asia (SEA). This partnership combines Sattrix’s cutting-edge cybersecurity expertise with Cloud IOT’s deep regional presence to address the region's increasing demand for robust cybersecurity, managed services, consulting, and digital transformation expertise.

Cloud IOT, Malaysia’s fastest-growing provider of end-to-end cloud solutions, specializes in cloud infrastructure, migration, security, and management under the brand of Nimbus Cloud. With a strong focus on digital transformation, Cloud IOT provides scalable and secure IT solutions tailored to diverse client needs.

Both companies will contribute capital investment through their respective subsidiaries. As SEA undergoes rapid digital transformation, businesses face growing risks from cyber threats and evolving technologies. The joint venture will deliver tailored cybersecurity solutions, including managed security, risk consulting, and compliance auditing, to offer comprehensive protection across industries. It will also lead IT transformation initiatives, such as strengthening security infrastructure, advanced application development, and state-of-the-art product solutions, equipping clients to securely innovate and defend against evolving threats.

Mr. Kumaran Singaram, Founder of Cloud IOT, commented on the joint venture, stating, “This partnership marks a pivotal moment, allowing us to expand our service offerings and solidify our leadership in cybersecurity and digital transformation across Southeast Asia. By leveraging Sattrix’s technical expertise alongside our regional market knowledge, we’re positioned to deliver sophisticated, scalable cybersecurity solutions tailored to the region's specific needs.”

Mr. Sachhin Gajjaer, Managing Director of Sattrix Information Security Limited, Sattrix, added, “We see tremendous potential in SEA market for cybersecurity solutions that are robust and adaptable to each market’s unique requirements. This joint venture reflects our commitment to delivering that adaptability, backed by expertise and technological strength. Together, we’ll provide SEA businesses with the resilience they need to thrive in a digital-first world.”

Since its establishment in 2013, Sattrix has emerged as a trusted IT and cybersecurity solution provider across India, the USA, and the Middle East. Its successful listing on the BSE SME platform, debuting at a 24% premium to the issue price, reflects the market's confidence in the company’s vision and capabilities.