News Summary
VCI Global Limited is set to acquire Roots Digital Pte. Ltd., a prominent digital marketing firm in Singapore, for US$2.2 million. The acquisition is a strategic move aimed at expanding VCI’s digital capabilities, driven by Roots Digital’s impressive financial growth and commitment to local SMEs. This partnership is expected to enhance VCI’s market presence and enable future innovations within the digital marketing landscape.
VCI Global Limited Makes Bold Move in Digital Marketing with Roots Digital Acquisition
In an exciting development for the digital marketing landscape, VCI Global Limited is advancing its acquisition of Roots Digital Pte. Ltd., a well-regarded digital marketing firm based in Singapore. This acquisition is priced at approximately US$2.2 million, or about SG$3 million, boasting a price-to-earnings (P/E) ratio of nearly 3.5.
Remarkable Financial Growth on Display
Roots Digital has reported impressive figures for the year 2024, with revenues exceeding US$3 million and nearly US$0.9 million in profit. These figures reflect a remarkable 84% year-on-year revenue growth over the past three years, showcasing the firm’s ability to thrive in a competitive market.
A Performance Marketing Expert
Specializing in performance marketing across various digital channels, Roots Digital has established a solid reputation in its field. What sets them apart is their exceptional customer retention rate of an average of 24 months, effectively minimizing client churn. The firm’s impressive roster of clients includes major names like the National University Cancer Institute, Singapore (NCIS), Microsoft Corporation, and Parkway College of Nursing and Allied Health, and it also collaborates with the Orita Sinclair School of Design & Music.
Supporting Local SMEs
Roots Digital’s standing as a pre-approved vendor under the Infocomm Media Development Authority’s (IMDA) Productivity Solutions Grant (PSG) allows eligible local small and medium enterprises (SMEs) to access up to 50% funding for their digital marketing services, further illustrating the firm’s commitment to supporting local businesses in enhancing their online presence.
Forging New Synergies
With this acquisition, VCI Global aims to combine its resources and extensive knowledge with the regional insights that Roots Digital brings to the table. This partnership is predicted to not only enhance VCI Global’s market presence in Singapore but also boost its capabilities in crucial areas such as SEO, paid media, and social media advertising.
Future-Proofing and Strategic Growth
The global digital marketing market is expected to soar to about US$1.2 trillion by 2033, with a compound annual growth rate (CAGR) of 11.22% from 2025 to 2033, largely driven by increased internet connectivity. This strategic acquisition by VCI Global is just one aspect of a broader growth strategy aimed at expanding service offerings and creating greater value for clients in this booming market.
A Diverse Focus on Expansion
VCI Global is not just focusing on digital marketing; it operates across various sectors including Capital Market Consultancy, Fintech, Real Estate, AI & Robotics, and Cybersecurity. The firm has established a significant presence across the Asia-Pacific region, as well as the U.S., Europe, and the Middle East, indicating its intentions for global impact.
Leadership’s Enthusiasm
Expressing excitement about this expansion into Singapore and the prospects for future acquisitions, VCI Global’s Group Executive Chairman and CEO, Dato’ Victor Hoo shared his enthusiasm for what lies ahead. This acquisition is poised to take VCI Global towards new heights.
Commitment to Innovation
Recently, VCI Global has also been actively investing in AI startups, acquiring solar photovoltaic projects, and securing essential contracts to provide AI solutions. This highlights the company’s commitment to growth and innovation, ensuring that they remain at the forefront of the industries in which they operate.
As these developments unfold, it will certainly be interesting to see how VCI Global and Roots Digital collaborate and innovate in the future. Their shared vision to improve client outcomes and enhance digital marketing capabilities could set a new standard in the industry.
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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
Author: STAFF HERE MYRTLE BEACH
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