VCI Global Ltd (NASDAQ:VCIG) has signed an agreement with the U.K.-based games developer and publisher, Playstack Limited, to acquire the IP and assets of Playstack’s AI based-AdTech platforms. The financial details of the transaction were not revealed.
The platform uses AI alongside gamification of digital marketing assets and technologies like augmented reality to maximize brand engagements.
The technology provides synergistic platforms to provide mobile engagement and revenue generation. The platforms will enhance VCIG’s customer engagement and monetization and act as the central conduit in its digital engagement strategy and growth plans.
“It uniquely taps into the current consumer interest in AI and the Metaverse, allowing users to engage in a gamified world with brands at its core,” said Group Executive Chairman and CEO Dato’ Victor Hoo.
VCI Global held $3.3 million in cash and equivalents as of June 30, 2023.
Price Action: VCIG shares are trading lower by 2.05% at $2.86 on the last check Monday.
