Catcha Digital announced today that they have completed the takeover process of a local digital media company, namely iMedia Asia Sdn Bhd, at a value of RM43.92 million.
For information, under iMedia Asia, there are several popular digital publications, including Oh! Media, Beautifulnara, NewsWav, and Illumination.
These publishing platforms are said to reach around 12.7 million Malaysians in a month, and have partnered with more than 100 brands in the past year.
Previously, the takeover plan was announced last September 2020. However, the process is seen to take some time including rebranding before it is finally taken over.
With this acquisition, we will likely see iMedia continue to invest in further expanding their brand in an effort to win advertisers over to their platform.
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BUSINESS & MONEY