Catcha Digital Berhad completes acquisition of iMedia

PETALING JAYA: Catcha Digital Berhad (Catcha Digital) announced today that it has completed the acquisition of the entire equity interest of iMedia Asia Sdn Bhd (iMedia) in a transaction valued at approximately RM43.92 million in cash and stock.

This acquisition follows the appointment of a new Group CEO on January 2nd and a new Chairman on March 1st, both this year.

Catcha Digital now owns a fast-growing integrated digital media solutions provider with an extensive portfolio of digital marketing platforms, reaching 12.7 million Malaysians monthly and serving over 100 brands across multiple industries annually.

Despite volatile market conditions, iMedia Group recorded a PATAMI of RM3.66 million for fiscal year 2021, exceeding the guaranteed PATAMI of RM3.00 million.

iMedia Group is on track to deliver better profitability for fiscal 2022 than fiscal 2021, in which iMedia Group achieved a record pre-tax profit of RM6.07 million.

“Having worked with the team behind iMedia for over 20 years, I am confident that the integration of iMedia’s massive reach and capabilities will accelerate Catcha Digital to be at the forefront of the digital media arena in Malaysia and then Southeast Asia. The tremendous growth

Last fiscal year’s win demonstrates that the team and strategy executes the strategic plan exceptionally well,” said Patrick YKin Grove, Chairman of Catcha Digital.

“We are very excited to build on our extensive digital media experience and continue to offer comprehensive and integrated digital media solutions to all customers as they embark on their digital transformation journey. We will continue to partner, invest in and acquire

synergistic digital businesses to strengthen our ecosystem of products and solutions. The completion of this transaction marks a new chapter in iMedia’s journey and we believe the best is yet to come,” said Voon Tze Khay, co-founder and CEO of iMedia.

Upon completion of the regularization plan, Catcha Digital will raise its GN2 status and continue to implement its strategic plans and explore new opportunities that will fuel its growth in the digital and technology industries in Southeast Asia. The final step of the regulatory plan includes a proposed rights issue which may raise up to RM41.04 million.

Catcha Digital has committed by its major shareholder, Catcha Group, to underwrite the proposed rights issue for a minimum of RM18.00 million.

“We see this acquisition of iMedia as just the beginning of Catcha Digital. We will accelerate our growth and continue to pursue high value-added investment opportunities that align with our strategic goals. Our goal is to attract the best digital and software companies to work with us

consolidating our industry to be a leader in Southeast Asia,” said Eric Tan, CEO of Catcha Digital. Catcha Digital Berhad completes acquisition of iMedia

Andrew Schnitker

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