The p oposed i vestme t eflects Ryde’s st ategy of developi g deepe st ategic elatio ships with specialised tech ology pa t e s that ca st e gthe the esilie ce, scalability a d secu ity of its platfo m. As Ryde co ti ues to expa d its digital capabilities a d tech ology i f ast uctu e, the Compa y believes close alig me t with O eT could suppo t its lo g-te m tech ology oadmap while p ovidi g a oppo tu ity to pa ticipate i O eT’s pote tial futu e g owth.
U de the o -bi di g te m sheet, Ryde p oposes to acqui e a i itial
The fi al valuatio of O eT has ot bee ag eed a d will be subject to i depe de t valuatio a d satisfacto y due dilige ce. The p oposed i vestme t st uctu e, co side atio a d othe comme cial te ms emai subject to fu the egotiatio a d may be evised as the pa ties p og ess towa ds defi itive ag eeme ts. A y t a sactio would also equi e applicable co po ate a d egulato y app ovals.
Followi g completio of the i itial p oposed i vestme t, O eT’s existi g sha eholde s would etai a 90% ow e ship i te est, a d O eT’s ma ageme t team, led by its Chief Executive Office , F a k Teh, would co ti ue to ma age the busi ess i depe de tly.
“Ou collabo atio with O eT bega with a sha ed focus o cybe secu ity a d tech ology esilie ce. This p oposed i vestme t ep ese ts a atu al p og essio of that elatio ship a d a oppo tu ity fo Ryde to b oade its tech ology ecosystem. We see pote tial sy e gies ac oss cybe secu ity, AI a d digital i f ast uctu e, while mai tai i g a discipli ed app oach to st ategic i vestme ts a d lo g-te m value c eatio ,” said
O eT is a Si gapo e-based tech ology solutio s p ovide with capabilities spa i g
O eT also
Th ough the existi g MOU, Ryde a d O eT a e explo i g collabo atio i applicatio secu ity, DevSecOps, vul e ability assessme t a d pe et atio testi g, ma aged detectio a d espo se, secu ity ope atio s a d othe cybe secu ity a d tech ology i itiatives.
“We a e pleased to take a othe step fo wa d i ou elatio ship with Ryde. Si ce sig i g ou MOU, both teams have bee explo i g oppo tu ities to wo k mo e closely ac oss cybe secu ity a d tech ology. As O eT co ti ues to st e gthe its co e cybe secu ity a d digital t a sfo matio capabilities, AI a d data ce t e i f ast uctu e will also be impo ta t a eas of focus. The p oposed i vestme t eflects ou sha ed i te est i developi g a lo ge -te m st ategic elatio ship while allowi g O eT to pu sue ew g owth oppo tu ities a d se ve its custome s i depe de tly,”
The te m sheet p ovides fo a
Except fo specified p ovisio s elati g to exclusivity, the outside date, a ou ceme ts, costs, legal effect a d gove i g law,
Ryde is a supe mobility app fou ded i Si gapo e a d ecog ised as the wo ld’s FIRST o -dema d ca pooli g app si ce 2014. As a publicly listed compa y o the NYSE Ame ica , Ryde is eimagi i g the way people a d goods move a ou d by offe i g a full suite of se vices, i cludi g ca pooli g, p ivate hi e, taxi, a d delive y. What disti guishes Ryde is its commitme t to empowe i g p ivate-hi e a d taxi pa t e s by taki g 0% commissio , e su i g that d ive s etai mo e of thei ha d-ea ed ea i gs. Fo mo e i fo matio , please visit https:// ydesha i g.com/.
O eT Solutio s Pte. Ltd. is a Si gapo e-based cybe secu ity, DevSecOps a d obse vability solutio s p ovide established i 2018. The compa y delive s cybe secu ity se vices i cludi g Ma aged Secu ity Se vices, Secu ity Ope atio s Ce t e (SOC), applicatio secu ity, DevSecOps a d obse vability solutio s to e te p ises ac oss the fi a cial se vices a d public secto s. Fo mo e i fo matio , please visit https://www.o et.sg/.
This p ess elease co tai s fo wa d-looki g stateme ts. I additio , f om time to time, we o ou ep ese tatives may make fo wa d-looki g stateme ts o ally o i w iti g. We base these fo wa d-looki g stateme ts o ou expectatio s a d p ojectio s about futu e eve ts, which we de ive f om the i fo matio cu e tly available to us. Such fo wa d-looki g stateme ts elate to futu e eve ts o ou futu e pe fo ma ce, i cludi g: ou fi a cial pe fo ma ce a d p ojectio s; ou g owth i eve ue a d ea i gs; a d ou busi ess p ospects a d oppo tu ities. You ca ide tify fo wa d-looki g stateme ts by those that a e ot histo ical i atu e, pa ticula ly those that use te mi ology such as “may,” “should,” “expects,” “a ticipates,” “co templates,” “estimates,” “believes,” “pla s,” “p ojected,” “p edicts,” “pote tial,” o “hopes” o the egative of these o simila te ms. I evaluati g these fo wa d-looki g stateme ts, you should co side va ious facto s, i cludi g: ou ability to cha ge the di ectio of the Compa y; ou ability to keep pace with ew tech ology a d cha gi g ma ket eeds; a d the competitive e vi o me t of ou busi ess. These a d othe facto s may cause ou actual esults to diffe mate ially f om a y fo wa d-looki g stateme t.
Fo wa d-looki g stateme ts a e o ly p edictio s. The fo wa d-looki g eve ts discussed i this p ess elease a d othe stateme ts made f om time to time by us o ou ep ese tatives, may ot occu , a d actual eve ts a d esults may diffe mate ially a d a e subject to isks, u ce tai ties, a d assumptio s about us. We a e ot obligated to publicly update o evise a y fo wa d-looki g stateme t.
Media TeamRyde G oup LtdEmail: media@ ydesha i g.com
I vesto Relatio s TeamRyde G oup LtdEmail: i vesto @ ydesha i g.com
View the o igi al p ess elease o ACCESS Newswi e
