- CEO
- Yeoh Oon Lai
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- V03-11-02, Designer Office Kuala Lumpur Malaysia 55100
- IPO Date
- Mar 14, 2022
- Business
- DUET Acquisition Corp. is a blank check company focused on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses, primarily targeting disruptive high-growth middle-market enterprises in technology sectors including eCommerce, FinTech, Big Data and analytics, and robotic process automation (RPA); healthcare; consumer; and media. The company offers no current products or services beyond its SPAC structure and maintains no significant operations while seeking suitable targets. DUET Acquisition Corp. was founded in 2021 and is headquartered in Kuala Lumpur, Malaysia. In recent developments, the company entered into a definitive business combination agreement in November 2023 to acquire Fenix 360 Pte Ltd., a Singapore-based global social media platform providing artists and creators with enhanced compensation, tools, and control, at a $610 million enterprise value, though the transaction remains subject to stockholder approval, regulatory clearances, and customary closing conditions with multiple deadline extensions through at least January 2025. Previously, DUET announced and later terminated merger agreements with AnyTech365, a Spanish IT security and support provider, and Anteco Systems, S.L., reflecting ongoing pursuit of strategic opportunities amid extensions of its business combination deadline, including deposits into trust for monthly extensions up to October 2024 and facing potential Nasdaq delisting risks related to minimum holder requirements. The company operates globally with a focus on technology-driven targets and is led by co-CEOs Dharmendra Magasvaran and Oon Lai Yeoh.