Malaysian Digital Media Group REV Asia Acquire iMEDIA
Digital media group REV Asia Berhad today announced that it has agreed to acquire iMedia, a Malaysian digital media company focussing on content, technology, and social influencer marketing.
iMedia owns and represents digital properties in the country which the company claims to have a combined reach of over eight million Malaysians monthly.
iMedia is expected to make over US$723,000 in net profit after tax in 2021, which would see a total acquisition price of US$9.6 million, if achieved.
REV Asia noted that the founders of iMedia are taking the entire consideration in shares in REV Asia. As part of REV Asia, access to capital markets and liquidity is expected to allow the company to accelerate its acquisition and growth plans.
Nielsen Malaysia recently reported that digital advertising spent in Malaysia from January to May 2020 exceeded US$104 million, accounting for more than 22 per cent of total advertising spend in the country. This has placed iMedia to capitalise on the opportunity in digital advertising spend in Malaysia and other key Southeast Asian markets.
Voon Tze Khay, CEO, and Co-founder of iMedia said, “There are hundreds of independent digital media and advertising businesses in Malaysia that would be better under one unified roof where they can share technology, data, content, sales teams, and clients. We aim to be that single digital home for Malaysian digital media properties. We are looking to invest in or acquire numerous companies in this exact space in both Malaysia and then across the region.”
iMedia’s social influencer marketing platforms were built in Malaysia, and they have powered influencer campaigns across the top 1,000 influencers in the country.
In 2016, REV Asia its group of companies announced that its 70 per cent-owned subsidiary, namely Rev Digital Sdn Bhd has entered into a Business Assets Sale and Purchase Agreement (SPA) with Netnion Technology Sdn Bhd for the proposed acquisition of popular Chinese social news and content websites, Viralcham and Rojaklah.
Shortly after, it followed with the acqusition of three popular Malay content portals called Siraplimau, Myresipi, and Kongsiresep.
In 2017, however, REV Asia was acquired by Media Prima Digital, a subsidiary of the Malaysian media giant Media Prima for US$24.2 million. The deal fully incorporated REV Asia into Media Prima’s digital platform, making the platform the largest Malaysian digital media company.