Zinger Key Points
- YY Group acquires MediaPlus to expand digital marketing capabilities.
- Acquisition projected to boost revenue by $20 million in three years.
YY Group Holding Limited YYGH has agreed to acquire MediaPlus Venture Group Pte. Ltd., a digital marketing and web development firm operating in Singapore and Malaysia.
Financial details of the transaction were not disclosed. The strategic move is aimed at strengthening YY Group’s digital capabilities while optimizing operational efficiency.
The acquisition aligns with YY Group’s long-term strategy of integrating core business functions to enhance efficiency and reduce dependency on external vendors.
The consolidation will enable the Group to streamline operations, cut costs, and expand its service offerings for a growing international client base.
The integration is projected to contribute an additional $20 million in revenue over the next three years as the group expands into new markets, including its manpower outsourcing business. YY Group will incorporate MediaPlus’ team of professionals. CEO Mike Fu said, “By bringing MediaPlus into our family, we are not only optimizing our operations but also positioning ourselves to deliver even greater value to our clients.”
YY Group held $1.08 million in cash as of June 30, 2024.
Price Action: YYGH shares are trading lower by 2.06% at $1.714 at the last check Friday.
Image via Shutterstock.
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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