MRC Allied Inc. said Thursday it signed an agreement with 5G Security Inc. embodying the initial and preparatory agreement to acquire Kerberus Corp., a cybersecurity solutions provider.
“The memorandum of agreement is a preparatory and initial agreement between the parties on the acquisition by MRC of a supermajority ownership and control of Kerberus Corp. by which once conditions are met, MRC Allied Inc shall acquire up to 250,000,000 shares in Kerberus or not less than 75 percent ownership stake in Kerberus,” MRC said in a disclosure to the stock exchange.
The company said the plan to acquire the majority and control of Kerberus stemmed from the shifting of MRC to a holding company.
“The acquisition of Kerberus will solidify the entry of MRC into the holding industry. The acquisition of Kerberus will allow MRC to have a significant stake in a corporation that can offer WiFi and internet services to the public as Kerberus has a value-added service license from the National Telecommunications Commission,” MRC said.