Orangekloud Technology Signs S$1M Strategic Investment in Award-Winning Cybersecurity Firm, Evvo Labs
Orangekloud Technology Inc. (Nasdaq: ORKT) has announced a strategic investment of S$1,000,000 (approximately $761,000) in Evvo Labs Pte. , a Singapore-based cybersecurity company. This investment will give Orangekloud a 3.23% shareholding stake in Evvo Labs.
The collaboration aims to enhance Orangekloud's digital transformation solutions by leveraging Evvo Labs' cybersecurity capabilities. This is expected to benefit Orangekloud's enterprise customers. The investment will also support Evvo Labs' product enhancement and market expansion into Singapore and Vietnam.
Both companies anticipate positive synergies from this agreement, strengthening their competitive positions and facilitating the development of new products and services. Orangekloud CEO Alex Goh expressed optimism about the collaboration, stating it will improve service to enterprise end-users and create new product revenue opportunities.
Orangekloud Technology Inc. (Nasdaq: ORKT) ha annunciato un investimento strategico di S$1.000.000 (circa $761.000) in Evvo Labs Pte., un'azienda di cybersecurity con sede a Singapore. Questo investimento darà a Orangekloud una partecipazione azionaria del 3,23% in Evvo Labs.
La collaborazione mira a migliorare le soluzioni di trasformazione digitale di Orangekloud sfruttando le capacità di cybersecurity di Evvo Labs. Si prevede che questo apporterà benefici ai clienti enterprise di Orangekloud. L'investimento supporterà anche il miglioramento dei prodotti di Evvo Labs e l'espansione del mercato in Singapore e Vietnam.
Entrambe le aziende si aspettano sinergie positive da questo accordo, rafforzando le loro posizioni competitive e facilitando lo sviluppo di nuovi prodotti e servizi. Il CEO di Orangekloud, Alex Goh, ha espresso ottimismo riguardo alla collaborazione, affermando che migliorerà il servizio per gli utenti finali enterprise e creerà nuove opportunità di ricavo da prodotti.
Orangekloud Technology Inc. (Nasdaq: ORKT) ha anunciado una inversión estratégica de S$1,000,000 (aproximadamente $761,000) en Evvo Labs Pte., una empresa de ciberseguridad con sede en Singapur. Esta inversión otorgará a Orangekloud una participación accionaria del 3.23% en Evvo Labs.
La colaboración tiene como objetivo mejorar las soluciones de transformación digital de Orangekloud aprovechando las capacidades de ciberseguridad de Evvo Labs. Se espera que esto beneficie a los clientes empresariales de Orangekloud. La inversión también apoyará la mejora de productos de Evvo Labs y la expansión del mercado en Singapur y Vietnam.
Ambas empresas anticipan sinerias positivas de este acuerdo, fortaleciendo sus posiciones competitivas y facilitando el desarrollo de nuevos productos y servicios. El CEO de Orangekloud, Alex Goh, expresó optimismo respecto a la colaboración, afirmando que mejorará el servicio a los usuarios finales empresariales y creará nuevas oportunidades de ingresos por productos.
오렌지클라우드 기술 주식회사 (Nasdaq: ORKT)가 싱가포르에 본사를 둔 사이버 보안 회사인 Evvo Labs Pte.에 S$1,000,000 (약 $761,000)의 전략적 투자를 발표했습니다. 이 투자는 오렌지클라우드에게 Evvo Labs에 대한 3.23%의 지분을 제공합니다.
이번 협업은 Evvo Labs의 사이버 보안 기능을 활용하여 오렌지클라우드의 디지털 전환 솔루션을 강화하는 것을 목표로 하고 있습니다. 이는 오렌지클라우드의 기업 고객에게 이익이 될 것으로 예상됩니다. 또한 이 투자는 Evvo Labs의 제품 개선과 싱가포르 및 베트남으로의 시장 확장을 지원할 것입니다.
두 회사는 이 협약에서 긍정적인 시너지 효과를 기대하고 있으며, 경쟁력을 더욱 강화하고 새로운 제품 및 서비스 개발을 촉진할 것입니다. 오렌지클라우드 CEO 알렉스 고는 이번 협업에 대한 낙관적인 입장을 밝히며, 기업 최종 사용자들에게 서비스를 개선하고 새로운 제품 수익 기회를 창출할 것이라고 전했습니다.
Orangekloud Technology Inc. (Nasdaq: ORKT) a annoncé un investissement stratégique de S$1,000,000 (environ $761,000) dans Evvo Labs Pte., une entreprise de cybersécurité basée à Singapour. Cet investissement donnera à Orangekloud une participation de 3,23% dans Evvo Labs.
La collaboration vise à améliorer les solutions de transformation numérique d'Orangekloud en tirant parti des capacités de cybersécurité d'Evvo Labs. Cela devrait bénéficier aux clients d'entreprises d'Orangekloud. L'investissement soutiendra également l'amélioration des produits d'Evvo Labs et l'expansion sur le marché de Singapour et du Vietnam.
Les deux entreprises anticipent des synergies positives provenant de cet accord, renforçant ainsi leurs positions concurrentielles et facilitant le développement de nouveaux produits et services. Le PDG d'Orangekloud, Alex Goh, s'est exprimé avec optimisme concernant la collaboration, affirmant qu'elle améliorera le service aux utilisateurs finaux des entreprises et créera de nouvelles opportunités de revenus produits.
Orangekloud Technology Inc. (Nasdaq: ORKT) hat eine strategische Investition von S$1.000.000 (ca. $761.000) in Evvo Labs Pte., ein in Singapur ansässiges Cybersicherheitsunternehmen, angekündigt. Diese Investition wird Orangekloud eine 3,23%ige Beteiligung an Evvo Labs sichern.
Die Zusammenarbeit zielt darauf ab, die digitalen Transformationslösungen von Orangekloud durch die Inanspruchnahme der Cybersicherheitsfähigkeiten von Evvo Labs zu verbessern. Dies soll den Unternehmenskunden von Orangekloud zugutekommen. Die Investition wird auch die Produktverbesserung und die Markterweiterung von Evvo Labs in Singapur und Vietnam unterstützen.
Beide Unternehmen erwarten positive Synergien aus dieser Vereinbarung, was ihre Wettbewerbspositionen stärkt und die Entwicklung neuer Produkte und Dienstleistungen erleichtert. Der CEO von Orangekloud, Alex Goh, äußerte Optimismus über die Zusammenarbeit und erklärte, dass sie den Service für Unternehmenskunden verbessern und neue Produktumsatzmöglichkeiten schaffen wird.
- Strategic investment of S$1,000,000 for a 3.23% stake in Evvo Labs
- Enhancement of Orangekloud's digital transformation solutions with cybersecurity capabilities
- Potential for new product revenue streams
- Expansion into Singapore and Vietnam markets
- None.
Insights
This strategic investment by Orangekloud Technology in Evvo Labs is a noteworthy development. The
The collaboration has potential to create value in several ways:
- Enhanced product offerings: Integrating Evvo Labs' cybersecurity solutions into Orangekloud's digital transformation products could increase their attractiveness to enterprise customers.
- New revenue streams: As CEO Alex Goh mentioned, this could open up new product revenue sources for Orangekloud.
- Market expansion: The investment will support Evvo Labs' growth in Singapore and Vietnam, potentially benefiting Orangekloud through its equity stake.
However, investors should note that the immediate financial impact on Orangekloud, with a market cap of
This strategic investment by Orangekloud in Evvo Labs is a smart move in the rapidly evolving tech landscape. By integrating advanced cybersecurity capabilities into its eMOBIQ® No-Code platform and SaaS solutions, Orangekloud is addressing a critical need in the market.
The no-code/low-code development sector, where Orangekloud operates, is experiencing significant growth. However, security concerns often hinder adoption, especially among enterprise customers. By partnering with a recognized cybersecurity firm like Evvo Labs, Orangekloud can:
- Enhance the security posture of its offerings
- Differentiate its products in a competitive market
- Potentially accelerate enterprise adoption of its no-code solutions
Moreover, this collaboration could lead to innovative products that combine the ease of no-code development with robust cybersecurity features. Such offerings could be particularly attractive in sectors with high security requirements, opening new market opportunities for both companies.
SINGAPORE, Oct. 18, 2024 (GLOBE NEWSWIRE) -- Orangekloud Technology Inc. (Nasdaq: ORKT) (“Orangekloud” or “the Company”), a Singapore-based technology company offering the eMOBIQ® No-Code platform for the development of mobile applications and SaaS subscription-based ISV Solutions, today announced the signing of an Investment Agreement with Evvo Labs Pte. Ltd. (“Evvo Labs”), an established and award-winning Cybersecurity company in Singapore.
Investment and Collaboration Highlights:
- Orangekloud to invest S
$1,000,000 (approximately$761,000) for a3.23% shareholding stake in Evvo Labs. - The strategic collaboration will enable OrangeKloud to leverage Evvo Labs' cybersecurity capabilities to elevate ORKT’s offerings of digital transformation solutions, benefitting the Company’s end-user enterprise customers.
- Orangekloud’s investment will contribute to Evvo Labs’ product enhancement and market expansion into Singapore and Vietnam.
Orangekloud and Evvo Labs said they expect the strategic agreement to produce “positive synergies” enabling both parties to strengthen the competitive positions in their respective product markets, as well as facilitate the development of additional products and services.
“We are looking forward to our newfound investment and collaboration with Evvo Labs,” said Orangekloud CEO Alex Goh. “This strategic investment, we believe, will not only enable Orangekloud to better serve and protect our enterprise end-users but also create a source of new product revenue.”
About Orangekloud Technology Inc.
Orangekloud Technology Inc. (Nasdaq: ORKT) is a Singapore-based technology company which offers the eMOBIQ® No-Code platform to develop mobile applications specially designed for Small and Medium Enterprises (SMEs) and corporations. The eMOBIQ® suite of mobile applications designed to digitalize and streamline business processes in operations includes warehousing, sales ordering, delivery, and manufacturing. eMOBIQ® customers come from various industries, including food manufacturing and food service, precision engineering, construction, retail, energy, and warehouse management.
About Evvo Labs
Evvo Labs Pte. Ltd. is an established cybersecurity company in Singapore with over 13 years of proven track record in delivering and protecting the Government, MNCs and Enterprises’ business and operations. It has been a Singapore Government Cybersecurity Bulk Tender winner for the past decade, excelling in delivering WAF, DDOS, and DAM solutions to many Singapore Government agencies and other business sectors. It is equipped with an in-house Security Operation Centre (“SOC”), providing a comprehensive range of managed security and professional services to its partners and clients.
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Contacts
OrangeKloud Technology Inc. IR Contact:
1 Yishun Industrial Street 1 #04-27/28 & 34 A’Posh Bizhub
Singapore 768160
(+65) 6317 2050
Email: ir@orangekloud.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
FAQ
What is the value of Orangekloud's investment in Evvo Labs?
What percentage stake will Orangekloud acquire in Evvo Labs?
How will this investment benefit Orangekloud's customers?
What markets is Evvo Labs planning to expand into with this investment?
