BUSINESS

CryptoDATA Tech acquires majority stake in RNF Racing Ltd

09/11/2022 04:04 PM

KUALA LUMPUR, Nov 9 (Bernama) -- CryptoDATA Tech, a Romania-based blockchain-applied technologies pioneer and developer of hardware and software cybersecurity solutions, has acquired a majority stake in RNF Racing Ltd which runs the RNF MotoGP team from Malaysia.

This strategic investment marks a significant milestone and a beginning of a new era for the 15-month-old motorcycle racing team and the Romanian holding company.

“With CryptoDATA as the majority shareholder, the vision and strategy are to go beyond racing and expand the business and services into motorsports, mainly in MotoGP as well as to take on the role of the business and branding aspects of the team,” CrytoDATA Tech said in a statement today.

Chief executive officer and founder Ovidiu Toma said the MotoGP World Championship is an exclusive and international showcase, a special universe where the starting grid is “a stage for heroes in which CryptoDATA has found its space by sharing its values and objectives.”

“This (becoming the majority shareholder) represents not only a historical milestone for CryptoDATA, but also a new beginning and a significant incentive,” he added.

The RNF MotoGP team will continue participating as an independent team in the premier class of the FIM MotoGP World Championship, it said.

The team principal, Datuk Razlan Razali, remains at the helm focusing on the sporting and technicality side of the team, it said.

The company noted that in conjunction with the final race of the season and to mark the start of this historical milestone, RNF MotoGP Team and CryptoDATA will be unveiling a special livery design on race day at the Valencia Grand Prix.

-- BERNAMA


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