Core Insights - YY Group Holding Limited has announced the acquisition of Uniforce Security Pte Ltd, enhancing its Integrated Facility Management (IFM) division and commitment to providing advanced solutions globally [1][2] Group 1: Acquisition Details - The acquisition of UFS strengthens YY Group's position in the security market and facilitates collaboration across its ecosystem, leveraging UFS's established reputation [2][3] - UFS's integration into YYGH's IFM division allows for a broader range of services to its existing clientele, positioning YY Group as a comprehensive solution provider [3] Group 2: Strategic Vision - YY Group aims to unify protocols, integrate advanced technology, and offer bundled services to enhance client satisfaction following the acquisition [4] - The integration will occur in three phases: service and SOP alignment, technology integration, and commercial synergies [8] Group 3: Leadership and Expertise - UFS's current Managing Director, Chew Chee Keong, will continue to lead the Security division, ensuring continuity and growth [5] Group 4: Financial Impact - The acquisition is expected to generate US$35 million in revenue for YY Group over the next three years, with UFS contributing approximately US$6.4 million in 2024 [6] - The security sector in Singapore is valued at US$88 billion and is projected to grow at a CAGR of 5.27%, reaching US$114.7 billion by 2028 [6] Group 5: Company Overview - YY Group is a technology-enabled platform providing flexible workforce solutions and IFM services across Asia, operating in sectors such as hospitality, logistics, retail, and healthcare [12][13]
YY Group Acquires Uniforce Security with US$6.4 Million Revenue, Entering Singapore's US$88 Billion Security Market