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Catcha Digital makes new media acquisitions as it looks to boost profitability 

Catcha Digital makes new media acquisitions as it looks to boost profitability 

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Malaysian-based investment holding company, Catcha Digital’s wholly-owned subsidiary iMedia Asia, has made new acquisitions in Ittify and Headline Media to improve the company’s profitability.

For the acquisition of influencer platform Ittify, Catcha Digital will own a 100% equity interest in Ittify after agreeing to acquire the remaining 49% it does not already own. The price of the acquisition is RM3.43 million and will be paid in two tranches over two years.

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Ittify helps brands engage with content creators and has worked with brands such as Watsons, 100 Plus and foodpanda to name a few. Eric Tan, CEO of Catcha Digital also explained that Itiffy has shown steady growth and made approximately RM0.53 million in profit after tax for the six-month financial period that ended on 30 June this year.

In its acquisition of Headline Media, Catcha Digital agreed to acquire a 30% equity interest with an option to acquire another 50% equity interest in Headline Media within 36 months. The price of the acquisition is RM1.235 million and will be paid in two tranches over two years. Headline Media owns and operates websites such as WeirdKaya,  LokLokWords and EzLokal.

“With the addition of Headline Media to our network of digital media platforms, we will strengthen our English language network and offer a much more comprehensive advertising solution to all our clients,” said Tan

“We expect these acquisitions to contribute positively to our earnings and overall business in the future,” added Patrick Grove, Chairman of Catcha Digital.

“Our mission is to build a leading digital group in Southeast Asia and we will continue to pursue investments and acquisitions that are earnings accretive,” he further added.

News of its two media acquisitions comes in the wake of Catcha Digital's recent lifting of its Guidance Note 2 (GN2) status after successfully raising RM29.7 million through the Rights Issue exercise as it looks toward growing and expanding its business in Southeast Asia.

The raised capital also marked the completion of Catcha Digital’s plans for regularisation, according to a statement by the company.

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