Jump to content

REV Media Group

From Wikipedia, the free encyclopedia
Catcha Digital Berhad
FormerlyREV Asia Holdings
Company typePublicly traded company
MYX: 0173
IndustryDigital Media, Advertising, Software, Internet and Entertainment
Founded8 October 2013
Headquarters
Petaling Jaya, Selangor
,
Malaysia
Key people
Patrick Grove, Chairman
Eric Tan, CEO
Voon Tze Khay, iMedia CEO
Number of employees
100+
Websitehttps://www.catchadigital.com/

Catcha Digital Berhad (formerly known as REV Asia Holdings) (MYX: 0173) was formed on 8 October 2013 following the completion of the merger between certain Catcha Media Berhad (Catcha Media) subsidiaries and Says Sdn Bhd. The merger deal, valued at MYR60 million was first announced in May 2013 [1] and completed in July.[2] The new company that resulted was named Rev Asia Holdings Sdn Bhd or Rev Asia for short.[3] On May 8, 2017, Rev Asia Sdn Bhd's subsidiary, Rev Asia Holdings, was acquired by Media Prima for MYR105 million.[4]

History

[edit]

On May 8, 2017, Media Prima Bhd, Malaysia's largest integrated media group, announced the landmark acquisition of 100 per cent equity interest in REV Asia Holdings Sdn Bhd, a subsidiary of Rev Asia Bhd and one of Southeast Asia's leading digital media groups for RM105 million.[5]

On September 1, 2020, Rev Asia Bhd announced through Bursa that it would be acquiring iMedia Asia Sdn Bhd — a digital media company that focuses on content and technology, and social influencer marketing, subject to approval.[6] iMedia owns and represents some digital properties which have a combined reach of over 8 million Malaysians monthly. iMedia clients include some of the largest tech companies in the region such as Shopee (SEA Group), iQiyi (Baidu), Foodpanda, Huawei and top global brands such as McDonald's, L'Oréal, Fonterra and Mercedes.[7]

On March, 2023, Catcha Digital Bhd completed the acquisition of the entire equity interest of iMedia Asia Sdn Bhd for RM43.92 million in cash and shares. The acquisition enhances Catcha Digital's portfolio, enabling it to reach 12.7 million Malaysians and serve over 100 brands across various industries. Following this, Catcha Digital expects its Guidance Note 2 (GN2) status to be lifted after completing its regularisation plan, which includes a proposed rights issue potentially raising up to RM41.04 million, with a minimum subscription of RM18 million from its major shareholder, Catcha Group. Chairman Patrick YKin Grove and CEO Eric Tan expressed confidence in the acquisition's potential to drive growth and position Catcha Digital as a leader in the digital media arena in Malaysia and Southeast Asia.[8]

On July 2023, Catcha Digital Berhad announced the upliftment of its GN2 status and the completion of its Regularisation Plan, marking a significant milestone for the company. Chairman Patrick YKin Grove and CEO Eric Tan expressed excitement about focusing on growth and scaling the company. The company raised RM29.7 million from a Rights Issue exercise and its subsidiary iMedia posted a record profit before tax of RM10.28 million in FYE 2022, showing a 69% year-on-year growth.[9]

As of 2024, Digital assets under Catcha Digital Berhad acquired by iMedia include Malay, English and Chinese-language portals such as OhMedia, BeautifulNara, Goody25, Headline Media, Ittify, Mortify, and more.

References

[edit]
  1. ^ "Catcha Media units, Says in RM60m merger deal", "The Malaysian Insider", 14 May 2013.
  2. ^ Jon Russell. "Malaysian digital media companies Catcha Media and Says complete $20 million merger", "The Next Web", 12 July 2013.
  3. ^ Jobs at Rev Asia
  4. ^ "Media Prima's purchase of Rev Asia for RM105m a positive move, says RAM Ratings". The Star. Retrieved 2024-04-16.
  5. ^ "Media Prima buys Rev Asia unit in landmark deal", "NST", 8 May 2017.
  6. ^ "Rev Asia to acquire digital firm iMedia as part of regularisation plan", "TheEdgeMarkets", 1 September 2020.
  7. ^ "Rev Asia to acquire iMedia in all stock deal", "Digital News Asia", 1 September 2020.
  8. ^ "Catcha Digital completes acquisition of iMedia Asia", "The Star", 7 March 2023.
  9. ^ "Catcha Digital Exits GN2 Status", "Business Today", 31 July 2023.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=REV_Media_Group&oldid=1235490429"