From left: Eric Tan, CEO of Catcha Digital; Voon Tze Khay, CEO of iMedia Asia Sdn Bhd; Patrick Grove, chairman of Catcha Digital; Jeand Pua Yin Chye, CEO and co-founder of Framemotion Studio; and Jehcob Tan Eng Hong, COO and co-founder of Framemotion Studio
KUALA LUMPUR: Catcha Digital Bhd
's wholly-owned subsidiary iMedia Asia Sdn Bhd has proposed to acquire 600,000 shares representing 60% equity in digital media advertising solutions provider Framemotion Studio Sdn Bhd for RM37.32mil cash.
In a statement, the gorup said Framemotion is expected to deliver a profit after tax and minitory interest (Patami) of no less than RM6.8mil for the 12-month period after the completion of the sale, and a further RM6.8mil for the subsequent 12 months.
It said the strategic acquisition combines Catcha Digital’s digital advertising solutions with FrameMotion’s award-winning immersive digital marketing capabilities in producing digital content.
The partnership will leverage virtual reality and augmented reality technology to augment both online and offline advertising experiences.
"We are very excited about this acquisition and believe that integrating FrameMotion’s cutting-edge expertise with our wide network will enable us to offer highly innovative and integrated solutions to clients across the region,” said Patrick Grove, chairman of Catcha Digital.
