YY Group Holding’s YY Smart Tech Expands Strategic Partnerships to Drive Digital Transformation Across Asia
Rhea-AI Summary
YY Group Holding (NASDAQ: YYGH) announced its subsidiary YY Smart Tech (YYST) is expanding strategic partnerships to enhance its service offerings across Asia. The initiative, valued at $5 million, will run for three years starting in 2025, focusing on Cybersecurity, IT Infrastructure, and Operational Technology solutions.
The partnership includes collaboration with Infinity Cybersecurity to deliver secure technological solutions for Government, Banking, and Enterprise sectors. YY Smart Tech will also optimize technology requirements across YYGH's group companies and enhance internal IT systems.
Positive
- Secured $5 million partnership agreement for 2025-2027
- Expansion into multiple sectors including Government and Banking
- Strategic alliance with Infinity Cybersecurity enhancing service portfolio
Negative
- Partnership revenue impact relatively modest at $1.67 million per year
- Benefits not realized until 2025
News Market Reaction
On the day this news was published, YYGH declined 1.02%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Singapore, Dec. 20, 2024 (GLOBE NEWSWIRE) -- YY Group Holding Limited (NASDAQ: YYGH) (“YY Group,” “YYGH,” or the “Company”) is pleased to announce that its subsidiary and technology arm, YY Smart Tech (YYST), is strengthening its partnership network with leading solution providers and system integrators to deliver cutting-edge services to customers across Singapore and the broader Asia region.
This strategic partnership will elevate YY Smart Tech’s service offerings by delivering innovative solutions in Cybersecurity, IT Infrastructure, and Operational Technology (OT) to clients across diverse sectors, including Government, Banking, and Enterprise.
The partnership, valued at USD
As part of this initiative, YY Smart Tech will streamline technology requirements across YYGH’s group of companies and leverage its cutting-edge solutions to enhance internal IT systems and business applications. This initiative reaffirms YY Smart Tech’s dedication to delivering top-tier service quality supported by state-of-the-art technologies and technical expertise.
"We are thrilled to collaborate with such an esteemed lineup of industry leaders to accelerate digital transformation and strengthen security and infrastructure capabilities across Asia," said a spokesperson for YY Smart Tech. "This partnership will empower us to provide exceptional value to our customers while enabling them to remain competitive and secure in today’s rapidly evolving technological landscape."
Through these strategic alliances, YY Smart Tech is set to enhance service delivery, reinforce its position as a trusted provider of advanced technology solutions in the region, and drive transformative outcomes for customers, positioning them for success in the digital era.
About YY Group Holdings Limited:
YY Group Holding Limited is a Singapore-based data and technology-driven company that specializes in creating enterprise intelligent labor matching services and smart cleaning solutions. Rooted in innovation and a commitment to user-centric experiences.
For more information on the Company, please log on to https://yygroupholding.com/.
About YY Smart Tech:
YY Smart Tech is a leading provider of innovative solutions, delivering world-class services in IT infrastructure, cybersecurity, and operational technology to organizations across Singapore and Asia. With a focus on continuous improvement and customer-centric solutions, YY Smart Tech strives to empower businesses to thrive in a complex, fast-paced digital environment.
Investor Contact:
Phua Zhi Yong, Chief Financial Officer
YY Group
Enquiries@yygroupholding.com
FAQ
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