Impiana to acquire 30% stake in Accuventures

KUALA LUMPUR: Impiana Hotels Bhd has entered into a non-legally binding term sheet to acquire a 30% equity interest in Accuventures Sdn Bhd in two tranches.

“The total purchase consideration of RM4.2mil which will be fully satisfied via Impiana shares, will be split into 2 tranches.

“Impiana will acquire an initial 10% stake followed by another 20% upon the completion of various due diligence processes,” Impiana said in a statement.

Accuventures is a founder-led fintech solution provider that prides itself in providing an array of digital solutions to its clients and developing systematic risk approval engine that taps on big data and leverages machine learning capabilities to deliver precise and accurate solutions.

Through Accuventures, Impiana will be implementing digitalisation solutions for the group.

Impiana executive chairman Datuk Seri Ismail @Farouk Abdullah said the acquisition would present many positive upsides for Impiana as it embraces new technologies to digitalise its hospitality business.

“We also foresee higher adoption of big data to further develop our (hospitality) business. This is merely one small part of our digitalisation programme coming into place with the fundamental aim of boosting our bottomline line,” he said.

“Digitalisation will eventually lead to less physical contact such as during check-ins. Digitalisation is a question of ‘when’ rather than ‘if’.

“A plethora of companies including the airlines have executed their respective programmes of a similar nature. We can all see that it has been implemented successfully. This pandemic is merely acting as the catalyst in fast forwarding various organisation’s digitalisation programme,” Ismail said.