VCI Global Hits Key Growth Milestone by Completing Its Second Technology Acquisition; a Leading AI Gamification Platform Serving Global Brands
April 15 2024 - 8:00AM
VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the
“Company”), a disruptive technology and IP aggregator and capital
markets advisor based in Southeast Asia, announced the acquisition
of two leading AI gamification brand engagement platforms on mobile
from a UK-based games developer. The acquisition of the “ENGAGE”
and “Interact” platforms opens up vast new monetization channels in
brand marketing to VCIG, with global mobile advertising spending
projected to hit $400 billion in 2024, with $136 billion (Martech)
being spent on mobile games alone by 2025, and 65% of all US
digital advertising spend directed towards mobile platforms
(Oberlo). With opportunities across both Western and Asian markets
alike, VCIG will sit at the center of global brand spend, bridging
the digital and real-world consumer engagement and interactions.
Focused on data-driven customization of user and
brand interaction, ENGAGE and Interact are creating a vast new
digital engagement vertical in brand management with global reach
across brands and retailers of all sizes. During its trial period
ENGAGE generated over 1 million downloads and over 500,000
monetized retail footfall check-ins in the UK alone, building
strong relationships with over 300 brands, including global
companies such as Unilever, Warner Bros, Sky TV and Danone. With
each consumer interaction event earning approximately $1.50, the
opportunity to grow revenues is vast given its global application
and targeted reach, and with most revenues being digital, the
opportunity to deliver scalable high margin growth is enormous.
These platforms represent a paradigm shift in
brand marketing, leveraging gamification, artificial intelligence
(AI), and augmented reality (AR) to engage users and brands alike,
driving retention, spending, and activations to maximize brand
visibility on mobile devices globally. VCIG will license this
technology to existing reward and loyalty platforms, global brands
and large fan-based sports and music events, providing multiple
opportunities to expand its reach to millions of consumers and
thousands of brands and events and to integrate and enhance
monetization of existing and future VCIG relationships and
investments.
“Following the recent acquisition of the
Socializer Messenger, we are proud to announce VCI Global’s
successful acquisition of ENGAGE and Interact, further bolstering
our technology venture portfolio in gamification. We anticipate
that incubating these two platforms, and in time, spinning them off
into Nasdaq listings will enrich our technological offerings and
deliver material financial upside to VCIG,” said Dato’ Victor Hoo,
Group Executive Chairman and Chief Executive Officer of VCI
Global.
About VCI Global Limited
VCI Global is a diversified holding company.
Through its subsidiaries, it focuses on consulting, fintech, AI,
robotics, cybersecurity, and gamification. Based in Kuala Lumpur,
Malaysia, our main operations are centered in Asia, with
significant visibility across Asia Pacific, the United States,
Europe, and the Middle East. VCIG primarily offers consulting
services in capital markets, real estate, AI, and technology. In
technology businesses, the company operates a proprietary financing
platform that serves companies and individuals, as well as a
secured messaging platform serving governments and organizations.
We also invest, incubate, accelerate, and commercialize businesses
and technologies in AI, robotics, and gamification.
For more information on the Company, please log on to
https://v-capital.co/.
About Playstack Limited
Playstack is a leading UK games publisher and
games technology business with offices in the UK, USA and Poland.
Playstack has published over 30 titles including the highly
successful Mortal Shell and Balatro games, across all major games
platforms including mobile and console.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking
statements that are subject to various risks and uncertainties.
Such statements include statements regarding the Company’s ability
to grow its business and other statements that are not historical
facts, including statements which may be accompanied by the words
“intends,” “may,” “will,” “plans,” “expects,” “anticipates,”
“projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,”
“potential” or similar words. Actual results could differ
materially from those described in these forward-looking statements
due to certain factors, including without limitation, the Company’s
ability to achieve profitable operations, customer acceptance of
new products, the effects of the spread of Coronavirus (COVID-19)
and future measures taken by authorities in the countries wherein
the Company has supply chain partners, the demand for the Company’s
products and the Company’s customers’ economic condition, the
impact of competitive products and pricing, successfully managing
and, general economic conditions and other risk factors detailed in
the Company’s filings with the United States Securities and
Exchange Commission (SEC). The forward-looking statements contained
in this press release are made as of the date of this press
release, and the Company does not undertake any responsibility to
update the forward-looking statements in this release, except in
accordance with applicable law. CONTACT INFORMATION:
For media queries, please contact:
VCI Global Limitedenquiries@v-capital.co
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