Catcha Digital, through its subsidiary iMedia Asia, plans to acquire a 60% stake in Framemotion Studio for 37.32 million ringgit (around US$8.39 million) in cash.

The deal will involve the purchase of 600,000 shares of the digital media advertising solutions provider.

According to a statement, Framemotion Studio is expected to achieve a profit after tax and minority interest (PATAMI) of at least 6.8 million ringgit (around US$1.5 million) within the first year following the completion of the acquisition.

A similar profit target has been set for the subsequent 12 months.

The deal aims to combine Catcha Digital’s experience in digital advertising with Framemotion’s strengths in virtual reality and augmented reality content.

Recent Catcha Digital developments

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