SINGAPORE (Nov 5): Satellite technology provider Global Invacom Group’s announcement of a reverse takeover (RTO) of biometric security firm Tactilis for a staggering US$200 million ($277.3 million) on Oct 24 appeared to be a reaction to its inclusion to the SGX Watch-list. The counter was put on the Watch-list on June 5 on minimum trading price grounds as its share price and trading volume languished.

The market, however, did not seem to value the proposed deal as highly as Global Invacom’s management. When the company’s shares resumed trading on Oct 24, it dropped amid overall market weakness and closed at 4.5 cents on Oct 31.

Tactilis manufactures and distributes a biometric security system. Housed inside a credit-card-size device, the system includes a fingerprint sensor, memory and technology that lets users authenticate themselves without having to store their data in a central database.

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