iMedia continues its recent series of acquisitions as it added Moretify, a Chinese language portal in Malaysia to the list after acquiring the company’s controlling stake. This move is part of the company’s mission of becoming Malaysia’s number 1 integrated digital media group.
Since acquiring Moretify, iMedia is the exclusive sales representation partner for the company and steps up as a major shareholder. Also as part of the deal, all social media assets from the company will be fully merged into iMedia’s ecosystem.
“We are excited with the prospects of Moretify and the synergies of working with Terrence and his team as this acquisition will further strengthen the company’s dominant position in the Chinese language content network in Malaysia and our reach to the overall Chinese urban youth speaking online community,” said Chief Executive Officer and Co-founder of iMedia, Voon Tze Khay. “The newly combined Chinese network (with Goody25) reaches out to approximately 3.5m monthly users with close to 14m pageviews visited each month.
This also positions the iMedia Chinese network as one of the largest in the country when it comes to the young Chinese speaking millennial audience.
“First of all, I would like to express our gratitude and thanks to Moretify’s users and clients for their long-time support,” said Managing Director and Founder of Moretify, Terrence Loh. “We look forward to working closely and expanding our influence further with iMedia.” On top of the acquisition, iMedia also announced it has signed an Exclusive Representation Agreement with Iluminasi to take over its advertising sales; with a primary focus on accelerating revenue across branded content, video and display advertising. Iluminasi was launched in 2017 and is a source for informative and intellectual content in Bahasa Malaysia that focuses on well-researched content to educate readers.