In latest acquisition, Catcha Digital acquires Theta Service Partner to enter banking software sector

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In latest acquisition, Catcha Digital acquires Theta Service Partner to enter banking software sector - Digital News Asia

Quick Summary:

Its wholly-owned subsidiary, Catcha Theta Holdings Sdn Bhd has entered into a conditional share sale agreement to acquire 92.5% equity interest in Theta Service Partner Sdn Bhd (Theta) for a cash consideration of approximately US$7.9 million (RM35 million) (subject to adjustments as set out in the conditional share sale agreement), which is split into 4 tranches of RM5.9 million, RM6.6 million, RM11.2 million and RM11.3 million respectively.[RM1 = US$0.22]

The second, third and fourth tranche payments are tied to expected profit after tax of not less than RM3.5 million, RM4 million and RM5 million for the financial year ended/ending 31 Dec (FYE) 2024, FYE 2025 and FYE 2026, respectively.

Conditional agreement for 92.5% in Theta Service Partner for approximately US$7.9m cash