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InfiCom Group acquires 11% of MCAS

28 April 2022 05:14

JAKARTA. Infi Commerce Group (InfiCom Group), a Singapore-based technology company, is officially listed as the shareholder of PT M Cash Integrasi Tbk (MCAS) with an ownership percentage of 11%.

Sharon Sim, Strategic Advisor of InfiCom Group, claimed that this acquisition is a manifestation of long-term investment aiming to solidify Business-to-Business (B2B) infrastructure in Indonesia. Moreover, this acquisition is also based on a shared interest of InfiCom Group and MCAS, which is providing solution for micro, small, and medium enterprises (MSMEs).

“Combining the fulfilment and business solution supported by technology between InfiCom Group and MCAS, we aim to establish one of the biggest and strongest end-to-end network,” Sim further added.

After acquiring MCAS’s shares, InfiCom Group plans to continue identifying growth opportunities for MCAS in Southeast Asia and India. Furthermore, InfiCom Group will also explore the cross-selling and upselling opportunities within MCAS’s ecosystem.

The purchase of MCAS’s shares had been completed by InfiCom Group yesterday (27/4). The value of this transaction was not publicly mentioned.

However, based on idnfinancials.com data, MCAS’s stock price was at IDR 13,000 per share during yesterday’s closing bell. Assuming that the transaction was carried out using this price as a reference, InfiCom Group then spent IDR 1.24 trillion on 11% of MCAS. (KR/ZH)

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