Malaysia-based digital platform Catcha Digital Berhad has announced its entry into a share sale agreement to acquire a 51 percent interest in Malaysian software as a service (SaaS) firm Nexible Solutions Sdn Bhd (Nexible) for a cash consideration of MYR 11.38 million ($2.56 million).

This strategic acquisition marks Catcha Digital’s expansion into the information technology (IT) sector, specifically in software-as-a-service (SaaS) and artificial intelligence (AI) solutions, Catcha Digital said in a statement on Thursday.

It noted this transaction is expected to contribute positively to Catcha Digital’s earnings per share.

The cash consideration is paid in four future tranches and is tied to the achievement of the profit after-tax guarantee over the period of Jan 1, 2024 to Dec 31, 2027, broken down into profit after tax (PAT) guarantee of MYR 700,000 ($157,587), MYR 1.20 million ($270,000), MYR 2.20 million ($500,0000) and MYR 3.30 million ($740,000) for the 12-month period ending December 31, 2024, December 31, 2025, December 31, 2026 and December 31, 2027 respectively.

“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.

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-1real 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 customer relationship management (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.

“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,” said Ananprakash A/L Saminathen, Chief Executive Officer and Co-Founder of Nexible.

With the rapid advancements in Generative AI, he believes 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,” he added.

According to the statement, 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 MYR 1 trillion ($230 billion), according to Google, Temasek, and Bain & Company’s 2023 SEA e-Conomy report.

Catch Media said 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.

Catcha Digital 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.

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