Malaysia’s information communication and technology (ICT) service provider Theta Edge has teamed up with local data-science company iStream360 to develop, promote, and market transformative artificial intelligence (A.I), blockchain, and advanced system solutions.

Theta Edge said in a bourse filing on Thursday that Theta Innovation Sdn Bhd, its wholly-owned subsidiary, has entered into a joint venture cum shareholder’s agreement with iStream360 Sdn Bhd for the partnership.

The joint venture will operate through a joint venture company with the agreed percentage interest of 51 percent from Theta Innovation and 49 percent from iStream360.

By partnering with iStream360 through the joint venture company, Theta Edge said it will not only be able to utilize i360 applications suites owned by iStream360 comprising of inter alia iGrow, iView, iMask, DIGIX, iConnect, iPatrol, AssetSocial, iLearn, iData, iCert, iMotion and iPredict (i360 Applications Suites) but will also be able to leverage on iStream360’s expertise in managing its internal products as well as to enhance its project management and execution capabilities.

This partnership will assist Theta Edge in accelerating its product development, driving faster innovation and smooth market entry.

The board of Theta Edge is of the opinion that the joint venture will have material impact on the financial position of the company and recognizes the potential for long-term growth and profitability from the joint venture company, subject to the successful execution of the business.

It noted the company will continue to evaluate the performance of the joint venture company and its potential financial contribution to the Theta and its group of companies.

Risks associated with the usiness will be monitored and managed accordingly.

The joint venture is expected to contribute positively to the consolidated net assets and earnings per share of Theta Group in the future arising from any profits derived from the project(s).

IStream360 is a data science company incorporated in Malaysia, that principally is engaged in the business of web portals, data processing activities, activities of providing infrastructure for hosting, data processing services and related activities.

The firm offers custom development and procurement of data driven and systems solutions utilizing machine learning, A.I and blockchain solutions.

The company, with a team of data engineers, data architects and data scientists, specializes in developing solutions for government and private industry.

Theta Edge is a member of Malaysian hajj pilgrims fund Lembaga Tabung Haji.

The firm delivers from basic communication systems to mission critical and complex telecommunication infrastructure.

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