November 28, 2024

KUALA LUMPUR, 28 November 2024: Catcha Digital Berhad (the “Catcha Digital”) today announced its entry into a share sale agreement to acquire a 51% interest in Nexible Solutions Sdn Bhd (“Nexible”) for a cash consideration of RM11,384,730. The cash consideration is paid in 4 future tranches and is tied to the achievement of the profit after-tax guarantee (“PAT Guarantee”) over the period of 36 months after completion date, broken down into PAT Guarantee of RM700,000, RM1,200,000, RM2,200,000 and RM3,300,000 at completion, for the 12-month period after completion 31 December 2025, 31 December 2026 and 31 December 2027 respectively. This strategic acquisition marks Catcha Digital’s expansion into the IT sector, specifically in software-as-a-service (SaaS) and artificial intelligence (AI) solutions. This transaction is expected to contribute positively to Catcha Digital’s earnings per share.

Nexible is a provider of business-to-business (B2B) SAAS software solutions, with its flagship product Outperform being an AI-powered sales automation platform that enables businesses, predominantly in the real estate sector, to effectively manage leads and customer relationships. The platform has gained significant traction among tier-1 real estate developers as well as companies across the automotive, education, and electrical appliances sectors in Malaysia. Over the past two years, Nexible has leveraged Generative AI to transform Outperform from being a system of record into an intelligent CRM assistant, automating routine tasks, auto qualifying leads and providing valuable insight to close deals faster.

Its upcoming product, Outperform AI Agent, due to be launched in the first quarter of 2025, will take this transformation to the next level by introducing Agentic AI to fully automate the pre-sales process. This includes engaging leads, qualifying prospects, scheduling appointments, and seamlessly transitioning high-intent customers to sales representatives, allowing businesses to maximize efficiency and scale their operations effortlessly.

“This proposed acquisition represents a significant milestone in our journey to become a leading digital group in ASEAN. Nexible’s AI-powered SaaS platform aligns well with our strategic vision of capitalising on the region’s growing digital economy. With Catcha’s extensive experience in scaling digital companies, particularly those serving the real estate sector, we are well-positioned to support Nexible’s growth trajectory and regional expansion plans,” said Patrick Grove, Chairman of Catcha Digital. 

“Joining forces with Catcha Digital opens up exciting growth opportunities for Outperform, with cross-selling synergies through iMedia. On top of that, Catcha’s leadership team’s proven track record in scaling digital companies regionally such as iProperty Group Ltd, iCar Asia Ltd will accelerate our expansion plans. With the rapid advancements in Generative AI, we believe the world is witnessing one of the biggest technological shifts. Our vision is for Outperform to become a tool that almost fully automates tasks and deliver results to sales teams rather than relying on manual input from them. We look forward to leveraging Catcha’s expertise and network to bring our Outperform to a broader market across ASEAN then globally, ” said Ananprakash A/L Saminathen, CEO & Co-Founder of Nexible.

The proposed acquisition provides significant cross-selling opportunities, allowing Catcha Digital to offer its digital advertising solutions to Nexible’s existing customer base to broaden their sales funnel while enabling Nexible to market its products to Catcha Digital’s existing customers to enhance the conversion of their sales funnel. It is also well-aligned with Catcha Digital’s vision to build the leading digital group in ASEAN, targeting the region’s fast-growing digital economy, valued at approximately RM1 trillion according to Google, Temasek, and Bain & Company’s 2023 SEA e-Conomy report. The Group continues to seek strategic investments and proposed acquisitions that complement its existing segments while expanding its presence in the digital economy beyond digital media.

END OF PRESS RELEASE

For further information, kindly contact:

Catcha Digital Berhad

Eric Tan – Chief Executive Officer

Email: [email protected]

About Catcha Digital Berhad

Catcha Digital Berhad is a Malaysia-based investment holding company, focused on operating businesses in the digital media, advertising and software industries. The Group’s wholly-owned subsidiary, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast-moving consumer goods, retail, property, entertainment and other industries in Malaysia. 

Website: www.catchadigital.com

About Nexible Solutions Sdn Bhd

Nexible Solutions Sdn Bhd is a provider of business-to-business software solutions, with its flagship product Outperform being an AI-powered sales automation platform that enables businesses, predominantly in the real estate sector, to effectively manage leads and customer relationships.

Website: www.outperformhq.io

KUALA LUMPUR, 27 Nov 2024: Catcha Digital Berhad (“Catcha Digital” or the “Company”) announces its financial results for the third quarter ended 30 September 2024 (“Q3 FY2024”).

For Q3 FY2024, the Company reported a record revenue of RM11.14 million. This marks a significant increase compared to the third quarter ended 30 September 2023 (“Q3 FY2023”), where the Company reported revenue of RM7.19 million, achieving year-over-year growth of 55%. The Company posted a profit after tax of RM1.21 million in Q3 FY2024, bringing its total profit after tax for the first nine months to RM3.43 million.

“We are proud of the team for achieving such impressive revenue growth amidst a volatile macroeconomic environment, owing to the heavy focus on product innovation capabilities. Over the past quarter, we have launched a range of innovative advertising solutions, such as augmented reality advertising and offline-to-online campaigns, allowing our advertisers to connect more effectively with their customers. We remained focused on achieving sustainable growth and earnings for our shareholders,” says Eric Tan, Chief Executive Officer of Catcha Digital.

“We are pleased to have achieved this record revenue in our fifth quarter after exiting GN2 status in July 2023, and we strive to maintain this momentum. As we continue our mission to build a leading profitable digital group in Southeast Asia, we will pursue strategic partnerships, investments, and acquisitions that are accretive to our earnings per share. The prospects for the business remain excellent, and we look forward to executing on all the great opportunities which we will share with the market soon,” says Patrick Grove, Chairman of Catcha Digital.

Recently, on 28 June 2024, Catcha Digital announced a joint venture with Khairy Jamaluddin and Shahril Hamdan, the founders of Keluar Sekejap, to form a new disruptive digital media business, KS Lagi. KS Lagi was launched in October 2024 and has secured global brands such as MG Motor, Honor, and Vico as advertisers.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3503233