VCI Global Expands with Acquisition of Lux-Motion

Deal News | Mar 17, 2025 | Globenewswire

VCI Global Expands with Acquisition of Lux-Motion

VCI Global Limited, a leader in AI infrastructure, has signed a definitive agreement to purchase Lux-Motion, a Malaysian luxury supercar e-commerce platform, for approximately $1.8 million. This acquisition is a strategic move to infiltrate the rapidly burgeoning automotive e-commerce market, which is estimated to grow to $343.13 billion by 2032. Lux-Motion brings to the table its advanced AI-powered LuxScore system, which optimizes high-value vehicle transactions through comprehensive data and secure blockchain technology. This deal expands VCI Global's footprint into AI-driven digital lending and strengthens its market position, enabling potential for further strategic expansions through mergers and partnerships. Dato Victor Hoo, the CEO of VCI Global, sees this as an opportunity to enhance service efficiency, trust, and scalability in luxury car transactions.

Sectors

  • Automotive E-Commerce
  • AI and Fintech

Geography

  • Malaysia – Lux-Motion is a Malaysian platform thus highlighting the country's involvement in advancing automotive e-commerce.
  • United States – VCI Global is actively trading on the NASDAQ and aims to expand its influence in the large US automotive e-commerce market.

Industry

  • Automotive E-Commerce – The automotive e-commerce industry involves buying and selling vehicles online, a sector projected to grow significantly. Lux-Motion is a key player in this market with its AI-enhanced platform.
  • AI and Fintech – Lux-Motion's platform employs artificial intelligence and financial technology for vehicle financing and transaction security, marking a significant advancement for VCI Global in this sector.

Financials

  • 1.8 million USD – Purchase value of Lux-Motion by VCI Global.

Participants

NameRoleTypeDescription
VCI Global LimitedBidding CompanyCompanyA diversified global holding company with interests across AI, fintech, and other sectors; acquiring Lux-Motion to expand into automotive e-commerce.
Lux-Motion (Datanex Asia Sdn Bhd)Target CompanyCompanyA Malaysian luxury supercar e-commerce platform focusing on AI-powered digital transactions.
Dato Victor HooCEO of VCI GlobalPersonGroup Executive Chairman and CEO of VCI Global, spearheading the acquisition to lead innovation in automotive transactions.