Ryde Enters Into Term Sheet for Strategic Investment in OneT Solutions

The proposed cash-and-share investment would leave OneT independently managed, with an option for Ryde to increase its stake.

Rhea-AI Summary

Ryde Group (RYDE) signed a non-binding term sheet with OneT Solutions and its two shareholders for a proposed minority investment. Ryde proposes buying an initial 10% equity interest from the shareholders using cash and newly issued Class A ordinary shares. An option would permit buying up to an additional 10% within nine months after initial completion, potentially raising ownership to 20%, subject to transaction terms and applicable limits.

Valuation remains unagreed, pending independent valuation and satisfactory due diligence. Structure and consideration remain negotiable, and completion requires definitive agreements and corporate and regulatory approvals. The term sheet provides 60-day exclusivity; the parties target definitive agreements within 90 days after signing. OneT would remain independently managed. Ryde sees potential collaboration across cybersecurity, AI and digital infrastructure.

3 points · 0 major

MixediHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 4 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed 10% OneT stake would establish an equity relationship with Ryde's existing technology collaborator.
• Minor point. Forward-looking: it has not happened yet and may not happen.Option permits up to an additional 10% within nine months after initial completion, subject to terms and limits.
• Minor point. Forward-looking: it has not happened yet and may not happen.Ryde sees potential synergies across cybersecurity, AI and digital infrastructure.

Negative

• Moderate point. Forward-looking: it has not happened yet and may not happen.Proposed consideration includes new Ryde Class A ordinary shares, which would dilute existing holders, alongside cash.
• Minor pointNon-binding investment terms remain subject to negotiation and definitive agreements.
• Minor pointOneT valuation remains unagreed, subject to independent valuation and satisfactory due diligence.
• Minor point. Forward-looking: it has not happened yet and may not happen.Proposed investment requires applicable corporate and regulatory approvals.

News Explained

Specified clauses are binding; the proposed investment itself remains non-binding.

Although the proposed investment is not yet binding, if it proceeds with newly issued Ryde Class A shares as consideration, those shares would increase Ryde's share count and reduce existing holders' ownership percentages, absent offsetting changes.

The release says specified provisions concerning exclusivity, the outside date, announcements, costs, legal effect and governing law are excepted from the term sheet's non-binding status.

Key Figures

Initial equity interest: 10% Additional option interest: Up to 10% Potential total ownership: 20% +3 more

Initial equity interest

10%

Proposed initial investment in OneT

Additional option interest

Up to 10%

Optional acquisition within nine months after completion of the initial investment

Potential total ownership

20%

If Ryde exercises the option for an additional interest

Option period

Nine months

Following completion of the initial investment

Exclusivity period

60 days

Due diligence, independent valuation and further negotiations

Definitive agreement target

Within 90 days

Following signing of the term sheet

Key Terms

devsecops, vulnerability assessment, penetration testing, managed detection and response

4 terms

devsecops technical

"capabilities spanning cybersecurity, DevSecOps, observability and managed security services"

DevSecOps is the practice of building security checks into the whole software creation and delivery process instead of treating security as a separate step at the end. For investors, it matters because products that find and fix vulnerabilities earlier tend to ship faster, cost less to maintain, and carry lower risk of damaging breaches or regulatory fines — much like installing quality and safety checks on a car while it’s being assembled rather than after it leaves the factory.

vulnerability assessment technical

"application security, DevSecOps, vulnerability assessment and penetration testing"

A systematic review that identifies, measures and ranks security weaknesses in an organization’s systems, software, networks, devices or processes. It typically sets the scope (what assets to examine), uses automated scans and manual testing to find flaws, evaluates each finding’s likelihood and potential impact, and produces prioritized remediation or mitigation recommendations. A vulnerability assessment describes the state of weaknesses at the time it is performed and does not by itself prove that attackers have exploited those weaknesses or that all future risks are eliminated.

penetration testing technical

"vulnerability assessment and penetration testing, managed detection and response"

Penetration testing is a controlled security check where experts try to break into a company’s computer systems, networks or applications to find weaknesses before real attackers do. For investors it signals how well a company manages cyber risk, potential costs from breaches or compliance failures, and the firmness of operational defenses—think of it as hiring a professional to test all the locks and alarm systems so vulnerabilities can be fixed before they cause damage.

managed detection and response technical

"managed detection and response, security operations and other cybersecurity"

Managed detection and response (MDR) is a service where outside specialists continuously monitor a company’s digital systems, look for signs of cyberattacks, and take or recommend immediate action to contain and fix problems. Think of it as hiring a dedicated 24/7 security team and emergency response crew for a business’s IT systems; for investors, MDR matters because it reduces the risk of costly breaches, downtime, regulatory fines, and damage to reputation that can hurt revenue and share value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

SINGAPORE, SG / ACCESS Newswire / October 23, 2026 / Ryde Group Ltd (NYSE American:RYDE) ("Ryde" or the "Company"), a leading technology platform for mobility and quick commerce headquartered in Singapore, today announced that it has entered into a non-binding term sheet with OneT Solutions Pte. Ltd. ("OneT") and its two shareholders in relation to a proposed minority strategic investment in OneT, building on the memorandum of understanding ("MOU") between the companies announced on 12 August 2026.

The proposed investment reflects Ryde's strategy of developing deeper strategic relationships with specialised technology partners that can strengthen the resilience, scalability and security of its platform. As Ryde continues to expand its digital capabilities and technology infrastructure, the Company believes closer alignment with OneT could support its long-term technology roadmap while providing an opportunity to participate in OneT's potential future growth.

Under the non-binding term sheet, Ryde proposes to acquire an initial 10% equity interest in OneT from its two existing shareholders, with consideration comprising a combination of cash and newly issued Ryde Class A ordinary shares. Ryde would also have an option, but not an obligation, to acquire up to an additional 10% interest within nine months following completion of the initial investment, potentially bringing Ryde's total ownership interest to 20%, subject to the proposed transaction terms and applicable limits.

The final valuation of OneT has not been agreed and will be subject to independent valuation and satisfactory due diligence. The proposed investment structure, consideration and other commercial terms remain subject to further negotiation and may be revised as the parties progress towards definitive agreements. Any transaction would also require applicable corporate and regulatory approvals.

Following completion of the initial proposed investment, OneT's existing shareholders would retain a 90% ownership interest, and OneT's management team, led by its Chief Executive Officer, Frank Teh, would continue to manage the business independently.

"Our collaboration with OneT began with a shared focus on cybersecurity and technology resilience. This proposed investment represents a natural progression of that relationship and an opportunity for Ryde to broaden its technology ecosystem. We see potential synergies across cybersecurity, AI and digital infrastructure, while maintaining a disciplined approach to strategic investments and long-term value creation," said a spokesperson of Ryde.

OneT is a Singapore-based technology solutions provider with capabilities spanning cybersecurity, DevSecOps, observability and managed security services, serving enterprises across sectors including financial services and the public sector.

OneT also maintains a strong group of AI Vendors/OEMs for AI Infrastructure, Data Centre and Cyber Security, positioning it strategically for their future growth in these areas. Alongside its established cybersecurity and digital transformation capabilities, OneT has identified data centre infrastructure and AI as key strategic priorities, supporting its expansion into enterprise technology and digital infrastructure solutions.

Through the existing MOU, Ryde and OneT are exploring collaboration in application security, DevSecOps, vulnerability assessment and penetration testing, managed detection and response, security operations and other cybersecurity and technology initiatives.

"We are pleased to take another step forward in our relationship with Ryde. Since signing our MOU, both teams have been exploring opportunities to work more closely across cybersecurity and technology. As OneT continues to strengthen its core cybersecurity and digital transformation capabilities, AI and data centre infrastructure will also be important areas of focus. The proposed investment reflects our shared interest in developing a longer-term strategic relationship while allowing OneT to pursue new growth opportunities and serve its customers independently," said Frank Teh, Chief Executive Officer of OneT Solutions.

The term sheet provides for a 60-day exclusivity period during which the parties intend to undertake due diligence, independent valuation and further negotiations, with a target of executing definitive agreements within 90 days following signing.

Except for specified provisions relating to exclusivity, the outside date, announcements, costs, legal effect and governing law, the term sheet is non-binding. The parties' existing confidentiality agreement remains in effect. The proposed investment remains subject to definitive agreements, applicable conditions and necessary corporate and regulatory approvals. There can be no assurance that definitive agreements will be entered into or that the proposed investment, whether in whole or in part, will be completed.

About Ryde Group Ltd

Ryde is a super mobility app founded in Singapore and recognised as the world's FIRST on-demand carpooling app since 2014. As a publicly listed company on the NYSE American, Ryde is reimagining the way people and goods move around by offering a full suite of services, including carpooling, private hire, taxi, and delivery. What distinguishes Ryde is its commitment to empowering private-hire and taxi partners by taking 0% commission, ensuring that drivers retain more of their hard-earned earnings. For more information, please visit https://rydesharing.com/.

About OneT Solutions Pte. Ltd.

OneT Solutions Pte. Ltd. is a Singapore-based cybersecurity, DevSecOps and observability solutions provider established in 2018. The company delivers cybersecurity services including Managed Security Services, Security Operations Centre (SOC), application security, DevSecOps and observability solutions to enterprises across the financial services and public sectors. For more information, please visit https://www.onet.sg/.

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.

Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement.

Contacts

For Media Relations:

Media Team
Ryde Group Ltd
Email: media@rydesharing.com

For Investor Relations:

Investor Relations Team
Ryde Group Ltd
Email: investor@rydesharing.com

SOURCE: Ryde Group

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Ryde propose buying in OneT Solutions?

Ryde proposes acquiring an initial 10% equity interest from OneT's two existing shareholders for cash and newly issued Ryde Class A ordinary shares. An option, not an obligation, would allow up to an additional 10% within nine months after initial completion, potentially bringing ownership to 20%, subject to transaction terms and applicable limits.

When does Ryde aim to sign definitive agreements for the OneT investment?

The parties target executing definitive agreements within 90 days following signing of the term sheet. A 60-day exclusivity period provides time for due diligence, independent valuation and further negotiations. The proposed investment remains subject to definitive agreements, applicable conditions and necessary corporate and regulatory approvals.

Which parts of Ryde's OneT term sheet are binding?

The term sheet is non-binding except for specified provisions covering exclusivity, the outside date, announcements, costs, legal effect and governing law. The parties' existing confidentiality agreement also remains in effect.

What cybersecurity work are Ryde and OneT already exploring?

Under their existing memorandum of understanding, Ryde and OneT are exploring application security, DevSecOps, vulnerability assessment and penetration testing, managed detection and response, and security operations, alongside other cybersecurity and technology initiatives.