Excel Force to acquire XR content publisher for RM18.15mil

KUALA LUMPUR: Excel Force MSC Bhd is acquiring the entire 100% equity interest in investment holding firm Orca Capital Holdings Limited (OCHL) from Honest Winner Limited for RM18.15mil via a combination of shares and cash.

In a bourse filing, the group said OCHL, which is incorporated in the British Virgin Islands, has a 20% stake in China-based Shahe Technology (Beijing) Co Ltd (Sandman Studios), which is involved in extended reality content production, proprietary technology development and XR content publishing.

The group expects to apply the XR content - comprising augmented reality (AR) and virtual reality (VR) technology - to its Xifu platform to increase subscribers and improve the user experience on the trading application.

"Furthermore, with the launch of Apple Vision Pro with its spatial operating system which will revolutionise digital content by blending content with physical space utilising AR and VR technology, the proposed acquisition will provide Excel Force with a first mover advantage to develop applications using a spatial operating system for commercialisation in tandem with its existing applications and platform," it said.

Excel Force said the purchase consideration will be satisfied via the issuance of 50.5 million new shares in the group at an indicative issue price of 33.5 sen per share, and RM1.23mil in cash.

The indicative issue price of 33.5 sen represents a discount of 7.56% to the five-day volume-weighted average market price of Excel Force's shares up to and including the last practisable date.

In the audited financial year ended Dec 31, 2022, Sandman Studios' revenue was about RM26.8mil, representing about 71.8% of the group’s FY21 ended Dec 31 revenue of RM37.3mil.

It was about 61.8% of the group’s FY23 ended June 30 (18 months) revenue of RM43.4mil.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Excel Force , XR , AR , VR , publishing , Sandman Studios


Next In Business News

Oil settles down on weaker US consumer sentiment
China’s exports top forecasts but falling imports point to more stimulus
Lessons from Malaysia’s Silver State
UK emerges as haven from global storms
Empowering SMEs in their digital transformation
Holistic approach to developing data centres
Sunview gains momentum on booming solar sector
Carbon tax conundrum
Robust plans needed to spur high-skilled jobs
Synergy House brings innovation to the table

Others Also Read