News Summary
VCI Global Limited is advancing its acquisition of Roots Digital Pte. Ltd., a premier digital marketing firm in Singapore, for around US$2.2 million. This strategic move highlights VCI Global’s commitment to expanding its market presence and enhancing service offerings in the digital marketing landscape. Roots Digital’s impressive growth and reputation, along with their support for local SMEs, are set to create significant synergies post-acquisition. Expect exciting developments in the digital marketing sector as VCI Global builds on its capabilities.
VCI Global Limited Moves Forward with Acquisition of Roots Digital Pte. Ltd.
In exciting business news, VCI Global Limited, a thriving company based out of Kuala Lumpur, Malaysia, is stepping up its game by advancing its acquisition of Roots Digital Pte. Ltd., a notable digital marketing firm located in Singapore. The deal is valued at around US$2.2 million or about SG$3 million. If you’re wondering about the numbers, this acquisition reflects a price-to-earnings (P/E) ratio of nearly 3.5, which is pretty intriguing for those keeping an eye on financial metrics!
Roots Digital’s Impressive Growth
Roots Digital has been making waves in the digital marketing industry, reporting more than US$3 million in revenue and almost US$0.9 million in profit for the year 2024. That’s quite an accomplishment, especially since they’ve achieved an extraordinary 84% year-on-year revenue growth over the past three years. Talk about rapid expansion!
A Deep Dive into Services
As a digital marketing firm, Roots Digital specializes in performance marketing across various digital channels, which is a crucial aspect for any business aiming to thrive in today’s market. Their ability to keep clients onboard is impressive; they maintain an average customer retention rate of 24 months, which plays a significant role in reducing client turnover or “churn.” They’ve worked with well-respected clients, including well-known names like The National University Cancer Institute Singapore (NCIS), Microsoft Corporation, Parkway College of Nursing and Allied Health, and Orita Sinclair School of Design & Music.
Support for Local SMEs
Roots Digital is also a pre-approved vendor under the Infocomm Media Development Authority’s (IMDA) Productivity Solutions Grant (PSG). This grants eligible local small and medium-sized enterprises (SMEs) up to 50% funding for digital marketing services, making it easier for these businesses to access quality marketing solutions.
Expectations for the Future
The acquisition is set to create some exciting synergies between VCI Global and Roots Digital, boosting their market presence and expertise in areas like SEO, paid media, and social media advertising within Singapore. VCI Global aims to blend its experience with Roots Digital’s regional insights to provide significant return on investment (ROI) for clients across various critical industries.
The Digital Marketing Landscape
It’s worth noting that the global digital marketing market is on a thrilling trajectory, projected to reach approximately US$1.2 trillion by 2033. The sector is expected to grow with a compound annual growth rate (CAGR) of 11.22% from 2025 to 2033, primarily driven by the increasing internet penetration across the globe.
Broadening Horizons
This strategic acquisition is a piece of VCI Global’s larger puzzle for growth, as they’re planning future expansions to enhance their service offerings and deliver even greater value to clients. VCI Global isn’t limiting itself to digital marketing; it also operates in various sectors such as Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity, having carved out a strong presence across the Asia-Pacific region, the U.S., Europe, and the Middle East.
Words from the Top
Excitement is in the air, as VCI Global’s Group Executive Chairman and CEO, Dato’ Victor Hoo, expressed his enthusiasm about expanding into Singapore and hinted at the potential for future acquisitions. This goes to show that the company is not just resting on its laurels, but actively seeking out ways to grow and innovate.
Looking Ahead
Alongside this recent acquisition, VCI Global has also been busy making additional strategic moves, including investing in AI startups, acquiring solar photovoltaic projects, and securing significant contracts to provide AI solutions. This continuous focus on growth and innovation underscores the company’s commitment to staying ahead in the ever-evolving business landscape.
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Additional Resources
- GlobeNewswire: VCI Global Advances Acquisition of Singapore-based Roots Digital
- Investing.com: VCI Global Expands into Singapore
- Business Insider: The Curious Journey of Qurious Media
- Statista: Singapore Digital Advertising Spending
- Wikipedia: Digital Marketing
