THETA Edge Bhd, a cutting-edge digital transformation solutions provider, has inked an exclusive memorandum of understanding (MOU) with renowned Estonian technology firm, Cybernetica AS.
This collaboration aims to jointly market and promote solutions in digital identity exclusively in Malaysia and in cybersecurity, privacy enhancement and interoperability within Malaysia and other ASEAN countries on a project basis.
Theta which is a 30%-owned subsidiary of Lembaga Tabung Haji and Cybernetica will set up a joint centre of excellence focusing on the aforementioned solutions.
“This strategic alliance with Cybernetica signifies our relentless pursuit of bringing top-tier technology and solutions to Malaysia and the broader ASEAN region.” commented Theta’s group CEO Datuk Nuraslina Zainal Abidin.
“In today’s digital age, securing identity, ensuring privacy and integrating systems are paramount. Pairing Theta’s profound understanding of local markets with Cybernetica’s technological acumen ensures that we are primed to set new industry benchmarks.”
As part of the MOU, Cybernetica will assume a pivotal role as a technology partner by working in tandem with Theta to jointly shape the solution’s architecture, technical components and overall integration strategy.
This partnership is set to harness Cybernetica’s globally recognised expertise in advanced digital solutions and merge it with Theta’s robust understanding of local market dynamics.
In this regard, Cybernetica’s CEO Oliver Väärtnõu expressed the group’s eagerness to expand its footprint in Malaysia by focusing on the key areas of digital identity and cybersecurity.
“Our partnership with Theta, the key player in the Malaysian IT-ecosystem, provides an excellent platform to service the Malaysian market and furthermore expand to the whole ASEAN region,” he envisages.
“As part of a knowledge travel exercise to develop local capacity and capability, we are committed for the first time in helping to set up a joint centre of excellence.”
On the longer term, Cybernetica’s technological innovation and Theta’s on-ground insights are poised to drive a paradigm shift in Malaysia’s digital landscape.
By leveraging cutting-edge technologies and methodologies, this collaboration aims to revolutionise how regional businesses and public services interact with, protect and leverage digital data.
At the close of today’s market trading, Theta was down 1 sen or 1.46% to 67.5 sen with 329,000 shares traded, thus valuing the company at RM80 mil. – Sept 18, 2023
