PETALING JAYA: ITMAX System Bhd, an artificial intelligence-powered integrated digital infrastructure solutions provider, today announced its acquisition of 70% equity interest in Tapway Sdn Bhd, a Vision AI technology company focused on commercial applications.
Tapway is principally involved in the development and deployment of its proprietary Vision AI platform, which is widely deployed across commercial sectors including shopping malls, plantations, and factories. The platform focuses on delivering Vision AI solutions for commercial environments and strategically complements ITMAX’s existing portfolio of AI-powered digital infrastructure solutions.
The acquisition amounts to RM5.6 million and will be financed entirely with internal funds. As part of the acquisition, Tapway will provide a profit guarantee of RM1 million per financial year for three consecutive years, from financial year 2026 to 2028.
ITMAX managing director and CEO, William Tan Wei Lun said, “The acquisition of Tapway marks an important strategic milestone for ITMAX as we strengthen our local AI talent base and accelerate our expansion beyond government-led smart city projects into the private and commercial sectors.
“While ITMAX has traditionally focused on large-scale, subscription-based digital infrastructure deployments for cities and public agencies, Tapway provides us with immediate access to proven commercial use cases across shopping malls, plantations, highways, and manufacturing facilities.”
He added that by combining Tapway’s Vision AI software capabilities with ITMAX’s established strengths in infrastructure deployment, connectivity, operations, and long-term service delivery, they are well positioned to scale Tapway from a predominantly software-based provider into a full-service, end-to end AI solutions platform.
“This transition enhances our value proposition to commercial customers and supports the expansion of recurring revenue streams,” he said, adding that equally important, the acquisition brings onboard a highly experienced local Vision AI team and deepens their technological capabilities.
“Tapway’s status as an Nvidia Metropolis Partner further strengthens ITMAX’s AI ecosystem and reinforces our ability to deliver enterprise-grade, globally aligned Vision AI solutions. Together, this acquisition supports ITMAX’s long-term strategy of becoming a leading integrated AI-powered digital infrastructure and services provider across both public and private sectors,” said Tan.
