The South East Asia operations of digital advertising firm Komli Media are being bought by the Malaysian group Axiata for $11.5 million. According to an announcement at the Bursa stock exchange, an agreement to purchase Komli Asia was reached today between Adknowledge (a subsidiary of the Axiata group) and Komli Asia. The business being acquired include Komli Media's operations in the South East Asia markets, in Hong Kong, Thailand, Singapore, Vietnam, Philippines, Indonesia and Malaysia. With this sale, Komli Media might need to change its position from "APAC's Leading Digital Network", given that much of its APAC business is being sold. The rationale behind the acquisition, according to Axiata, is that it allows them to "skip past the formative stage of its business plan and scale up its presence and operations in South East Asian region." It saw Komli's geographical spread and diversified revenue streams as "a strong strategic fit across digital advertising verticals such as social, video, display and mobile." Komli Asia has around 100 people in sales, advertising operations and others, with "deeply entrenched relationships with premium publishers and advertisers." Adknowledge Asia Pacific is an 80% subsidiary of Axiata Digital Advertising, which is a wholly owned subsidiary of Axiata Digital Services, which is a wholly owned subsidiary of Axiata Group Berhad. Axiata says that the acquisition "does not have any effect on the issued and paid-up share capital of Axiata and will not have any material effect on the earnings, gearings and net assets of the Axiata Group for the…
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