KUALA LUMPUR (March 17): Catcha Digital Bhd (KL:CATCHA) has finalised the acquisition of a 51% stake in DS Services Sdn Bhd (Digital Symphony) for RM22.95 million cash, after more than two years of negotiations.

In a filing with the local bourse on Monday, Catcha Digital said it has signed a share sale agreement with Digital Symphony to acquire the controlling stake in the latter. It is worth noting that the parties had signed a letter of intent for the acquisition back in November 2023.

In a statement on Monday, Catcha Digital outlined that the acquisition will be made in three instalments over a 24-month period following the completion of the share sale. 

The instalments are contingent on Digital Symphony and its subsidiaries achieving a net profit after tax (PAT) of RM4.5 million during both the first and second 12-month periods after completion of the sale. 

Catcha Digital and its subsidiaries will be able to offer Digital Symphony’s data-driven performance marketing solutions to its clients, while Digital Symphony can leverage Catcha Digital’s extensive digital media ecosystem and broad reach to enhance its offerings, the statement read. 

“With this acquisition, we’re doubling down on the power of data, automation and machine learning to create even better solutions for advertisers.

“The combination of Digital Symphony’s result-driven performance marketing and Catcha Digital’s extensive audience reach is a game-changer for brands looking to scale their digital presence," said Catcha Digital chairman Patrick Grove.

Digital Symphony is a digital marketing consultancy that operates in Malaysia and Singapore, specialising in performance marketing through the use of automation, data analytics and custom software solutions.  

The company operates in several industries, including property development, automotive and education. 

Catcha Digital’s shares closed half a sen or 1.5% lower at 32 sen on Monday, valuing the group at RM115 million.