Serial Systems' (SGX:XHV) subsidiary, Serial Achieva, terminated its joint venture agreement with A-Speed Infotech, according to a filing with the Singapore Exchange on Friday.

In September last year, Serial Achieva had entered into a joint venture agreement with A-Speed Infotech to conduct distribution of information technology products and peripherals in Asia.

The two companies had also agreed to establish a joint venture company named Achieva Tech Allianz under the JV agreement.