Kuala Lumpur, Malaysia – Catcha Digital has announced that iMedia, a wholly-owned subsidiary of Catcha Digital, has entered into a conditional share sale agreement to acquire a majority shareholding of 60% in FrameMotion, an integrated digital media solution provider.
This strategic acquisition combines Catcha Digital’s digital advertising solutions with FrameMotion’s immersive digital marketing capabilities in producing digital content leveraging on virtual reality and augmented reality technology to augment both online and offline advertising experiences. This transaction is also expected to contribute positively to Catcha Digital’s earnings in the future.
FrameMotion specialises in experiential marketing, brand activations, production of digital content and physical events for immersive experiences by leveraging on virtual reality and augmented reality technology, across Southeast Asia and other countries.
Speaking on the business move, Patrick Grove, chairman at Catcha Digital, said, “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. We can’t wait to push the boundaries of digital storytelling with the FrameMotion team.”
Meanwhile, Jeand Pua Yin Chye, co-founder and CEO of FrameMotion, commented, “This deal with Catcha Digital is a game-changer for our company. Their acquisition not only validates our creative vision but also accelerates our ability to deliver world-class digital experiences. We look forward to integrating with Catcha Digital’s broad suite of digital solutions to elevate our offerings to clients of both parties.”
Catcha Digital previously acquired a 70% interest in Tastefully Malaysia for RM7.6m. Said stake acquisition marked Catcha Digital’s ambition to continue growing its integrated digital media business to provide an omnichannel online-to-offline advertising solutions to its client base.
