51 percent stake in Nexible Solutions acquired by Catcha Digital for $2.56 M
For a cash consideration of MYR 11.38 million ($2.56 million), Malaysia-based digital platform Catcha Digital Berhad has announced that it has entered into a share sale agreement to purchase a 51 percent stake in Malaysian software as a service (SaaS) company Nexible Solutions Sdn Bhd (Nexible).
Catcha Digital said in a statement on Thursday that this strategic acquisition signifies the company’s entry into the information technology (IT) industry, particularly in software-as-a-service (SaaS) and artificial intelligence (AI) solutions.
It stated that it is anticipated that this deal will increase Catcha Digital’s earnings per share.
Divided into profit after tax (PAT) guarantees 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, the cash consideration is paid in four future tranches and is associated with the achievement of the PAT guarantee over the period of January 1, 2024 to December 31, 2027.
“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.
With its flagship product, Outperform, an AI-powered sales automation platform, Nexible, a provider of business-to-business (B2B) SAAS software solutions, helps companies, primarily in the real estate industry, to efficiently manage leads and customer relationships.
Tier-1 real estate developers and businesses in Malaysia’s automotive, educational, and electrical appliance sectors have taken a strong interest in the platform.
Nexible has used generative artificial intelligence (AI) to turn Outperform from a system of record into an intelligent CRM assistant over the last two years. This has allowed them to automate repetitive tasks, automatically qualify leads, and provide insightful data that speeds up deal closing.
By introducing Agentic AI to completely automate the pre-sales process, its next product, Outperform AI Agent, which is scheduled to launch in the first quarter of 2025, will advance this transformation.
Engaging leads, qualifying prospects, setting up appointments, and smoothly converting high-intent clients to sales representatives are all part of this process, which enables companies to scale their operations and increase efficiency.
“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.
