SINGAPORE (Oct 24): Global Invacom Group has entered into a conditional sale and purchase agreement to acquire 100% control of biometric system designer Tactilis which is valued at US$200 million ($280 million).

The proposed acquisition, if successfully completed, will result in the reverse takeover of the satellite broadcasting solutions provider under Singapore Exchange and London Stock Exchange’s AIM Market listing rules.

Incorporated in Malaysia, Tactilis is in the business of manufacturing and distribution of a proprietary biometric system-on-card solutions. Its main product offering is a biometric central card management system called Tactilis Touch, which serves as a medium of identity authentication between human users and devices.

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