Datasonic Acquires 51% Stake in Innov8tif Holdings From Revenue Group for RM40 Million Cash

Datasonic Group Bhd (KL) has announced the acquisition of a 51% equity stake in Innov8tif Holdings Sdn Bhd from Revenue Group Bhd for RM40 million in cash. Innov8tif, known for its expertise in identity verification, e-KYC, e-KYB solutions, anti-fraud technology, and mobile biometric authentication, will now complement Datasonic’s existing digital onboarding and security services.

This acquisition includes a profit guarantee of RM2.5 million for FY2025 and RM3 million for FY2026. Innov8tif recently recorded RM1.4 million in profit after tax on RM14.23 million in revenue in the first eight months of this year.

Datasonic aims to elevate their digital service offerings by integrating Innov8tif’s technology to facilitate more secure and automated customer onboarding. The acquisition will be funded through Datasonic’s cash reserves, internally generated funds, and/or borrowings.

This expansion aligns with Datasonic’s solid financial standing, including RM50.29 million in cash as of June 2024, alongside a strong Q1 FY2025 performance with a net profit increase of 42%.

In recent developments, Datasonic has also experienced board changes, with new appointments and resignations. This acquisition highlights their commitment to innovation in digital identity and secure customer onboarding processes.

To read more about this development, head over to The Edge's news article