DigiPlus Eyes Potential Acquisitions to Expand Operations
Deal News | Nov 24, 2024 | EIN
DigiPlus Interactive Corp., a digital entertainment company based in Manila, Philippines, is actively scouting for acquisition opportunities as part of its strategic expansion plans. According to DigiPlus President Andy Tsui, the company maintains a robust balance sheet to support future investments aimed at diversifying and strengthening its domestic operations. Expanding on the company's strategic intentions, VP Celeste Jovenir highlighted that DigiPlus is considering mergers and acquisitions not only with other gaming operators but also with digital entertainment firms such as live-streaming companies and game developers. Recently, DigiPlus has seen substantial growth in its monthly active users, reaching 4.5 million by the third quarter of 2024, compared to 2 million at the end of 2023. The company's earnings surged by 314% year-on-year to P8.75 billion from January to September, driven by growth in its retail games segment and the introduction of new products. Additionally, DigiPlus is advancing towards entering Brazil's iGaming market, pending the final stages of the licensing process. The boardroom has also strengthened with the addition of Arthur Tan as an independent director.
Sectors
- Digital Entertainment
- Mergers and Acquisitions
Geography
- Philippines – DigiPlus Interactive Corp. is based in Manila, Philippines, indicating the company's primary operations and market are in this country.
- Brazil – DigiPlus is in the final stages of licensing to enter Brazil's iGaming market, expanding its geographical reach.
Industry
- Digital Entertainment – The article focuses on DigiPlus Interactive Corp., a company in the digital entertainment sector, which includes gaming and live-streaming services.
- Mergers and Acquisitions – The article discusses DigiPlus's strategic interest in acquiring other companies, making the M&A sector relevant.
Financials
- 8.75 billion PHP – Earnings of DigiPlus reported a 314% year-on-year increase.
- 4.5 million – Monthly active users by the third quarter of 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DigiPlus Interactive Corp. | Target Company | Company | Digital entertainment company looking to expand through acquisitions. |
| Andy Tsui | President | People | President of DigiPlus Interactive Corp. |
| Celeste Jovenir | Vice President | People | Vice president and head of investor relations at DigiPlus Interactive Corp. |
| Arthur Tan | Independent Director | People | Recently appointed independent director, former CEO of Integrated Micro-Electronics Inc. |