Catcha Digital Bhd's wholly owned subsidiary, iMedia Asia Sdn Bhd, has acquired a 60% interest in Drive 2 Digital Sdn Bhd (D2D) for a cash consideration of RM16.2 million to kick-start Catcha Digital's expansion into the automotive digital media sector, specifically in Chinese and Malay language automotive content.

Catcha Digital Chairman Patrick Grove said this acquisition is expected to contribute positively to Catcha Digital's earnings in the future.

"The acquisition provides significant cross-selling opportunities between Catcha Digital's existing advertising client base and D2D's clientele. Catcha Digital and its subsidiaries (Catch Digital Group) will be able to offer D2D's automotive-focused solutions to its clients while D2D can leverage Catcha Digital Group's comprehensive digital advertising capabilities and broad reach to enhance its offerings to automotive brands.

"This synergistic relationship is expected to accelerate growth for both entities, he said, adding that the proposed acquisition aligns with Catcha Digital's vision to build the leading digital group in ASEAN, targeting the region's fast-growing digital economy, valued at approximately RM1 trillion according to Google, Temasek and Bain & Company's 2023 SEA e-Conomy report.