Efficient E-Solutions shares rise 1.33% after announcing acquisition proposal

PETALING JAYA: Efficient E-Solutions Bhd, which is looking to acquire majority interest in Kaapagam Technologies Sdn Bhd, saw its share price rise 1.33% this morning.
At 11.19am, its share price rose 1.33% to 38 sen with a total of 1.49 million shares traded. Its shares gained 4.17% to close at 37.5 sen yesterday with some 2.88 million shares changing hands.
Yesterday, the group told Bursa Malaysia that its subsidiary Efficient International Sdn Bhd had entered into a non-binding letter of intent with Clement Arul Jeeva Susai Arul, who owns a 39.03% stake in Kaapagam, for the acquisition.
Kaapagam is an IT and cyber security product development and consultancy firm. It focuses on web application firewall and security management system designed to secure the web applications from attacks and provide a layer of security by proxying all HTTP(S) traffic and shield web servers and databases from direct access of the attackers.