SNS Network Technology Bhd has signed a three-year memorandum of understanding (MoU) with Mimos Bhd to enhance software testing capabilities and foster innovation in artificial intelligence (AI), according to a filing on Friday.
Key Objectives of the Partnership
- Independent Verification and Validation (IV&V): The collaboration aims to improve software testing processes through IV&V services.
- AI Use Cases: Joint efforts will focus on developing advanced AI algorithms and practical AI solutions for an AI factory.
Strategic Goals
The partnership leverages Mimos' AI research and development expertise and SNS Network's robust infrastructure to deliver scalable and effective AI solutions for businesses. The collaboration is expected to address specific enterprise challenges and seize emerging opportunities.
“With the 8% and 16% CAGR forecast for the global IV&V and test outsourcing markets, demand for these services is growing rapidly in the context of emerging technologies,” said Ko Yun Hung, Managing Director of SNS Network.
Company Profiles
- SNS Network Technology: Provides ICT products, services, device repair, and broadband solutions.
- Mimos Bhd: Focuses on semiconductor research, thin-film technology, advanced electronics, and embedded systems.
Market Impact
SNS Network’s share price rose 0.88% to close at 58 sen on Friday, giving the company a market capitalization of RM931.66 million.
The partnership is poised to position both companies as key players in advancing AI solutions and software testing in the region.
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