JAKARTA - Infi Commerce Group (“InfiCom Group”), a Pan-Asian commerce enabling technology infrastructure group based in Singapore, is pleased to announce a strategic acquisition of c.11% of the ordinary shares of M Cash Integrasi Tbk (IDX: MCAS), a leading plug-and-play technology company based in Indonesia with market capitalization of c.US$800 million.
This transaction, which settled on 27 April 2022, is highly accretive to InfiCom Group, which has confidence in the region and Indonesia continuing to be a vibrant and growing epicenter of all forms of digital commerce. InfiCom Group’s Strategic Advisor, Sharon Sim, has observed “While the last decade has already seen significant growth in digital commerce in this region, low penetration levels compared to developed countries presents further potential uplift for investors.”
The acquisition of c.11% of MCAS represents a strategic long-term investment decision for InfiCom Group and marks a milestone in its journey to strengthen B2B infrastructure in this region. InfiCom Group intends to explore further strategic collaboration to support MCAS’s domestic and international growth, through regional expansion and cross border trade opportunities. InfiCom Group anticipates that such an enhanced partnership with MCAS has the potential to further enhance customer offerings through providing true O2O2O solutions for SMEs and regional merchants and their brands across South and Southeast Asia, thereby supporting MCAS’s further growth.
Jahja Suryandy, Managing Director of MCAS, said, “Over the years the company has built a very strong distribution network with massive digital infrastructure. Now, MCAS is in a phase where the dots are being connected through a cobweb structure and open API mechanism and at the same time maintaining neutrality to all service providers. The future for MCAS from here is aggressive growth and profitability which we call MCAS 4.0.” (LM)