DeClout’s new incubator will nurture local startups in financial technology (“fintech”), cybersecurity, data analytics and smart logistics with support from SPRING Singapore’s Startup SG Accelerator scheme
Tech firm DeClout is looking at three to four acquisitions that can be completed this year, while lining up another spin-off for 2018.These developments should put the Catalist-listed company, which incubates start-ups for “harvest” through initial public offerings (IPOs), back on the growth track following an unforeseen divestment that disrupted its plan.
DeClout has been awarded NRF’s Early Stage Venture Fund (ESVFIII). Under the ESVFIII, DeClout’s investment focus will be on disruptive start-ups in digital economy, including big data analytics, smart logistics, cyber security and fintech.
DeClout has announced a S$7.2 million reward for shareholders, following its announcement to divest its 72.09%-owned subsidiary, Acclivis to CITIC Telecoms. The divestment will see the Group recording a disposal gain of up to S$27.9 million, enabling the Group to undertake a proposed inaugural share buy-back constituting 26% of the disposal gains to reward its shareholders.