Catcha Digital Berhad announced its entry into a share sale agreement to acquire a 51% interest in Nexible Solutions Sdn Bhd for a cash consideration of RM11 million which marks the company's expansion into the IT sector, specifically in software-as-a-service (SaaS) and artificial intelligence (AI) solutions.

Nexible is a provider of business-to-business (B2B) SAAS software solutions, with its flagship product Outperform being an AI-powered sales automation platform that enables businesses, predominantly in the real estate sector, to effectively manage leads and customer relationships.

"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.

"Joining forces with Catcha Digital opens up exciting growth opportunities for Outperform, with cross-selling synergies through iMedia" said Ananprakash A/L Saminathen, CEO & Co-Founder of Nexible.

The proposed acquisition provides significant cross-selling opportunities, allowing Catcha Digital to offer its digital advertising solutions to Nexible's existing customer base to broaden their sales funnel while enabling Nexible to market its products to Catcha Digital's existing customers to enhance the conversion of their sales funnel.