Consultancy Firm VCI Global Acquires Games Developer Playstack's AI based-AdTech Platforms
Portfolio Pulse from Shivani Kumaresan
VCI Global Ltd (NASDAQ:VCIG) has acquired the IP and assets of Playstack Limited's AI-based AdTech platforms. The financial details were not disclosed. The technology aims to enhance VCIG's customer engagement and monetization strategies by using AI, gamification, and augmented reality to maximize brand engagements. VCI Global had $3.3 million in cash and equivalents as of June 30, 2023. VCIG shares dropped by 2.05% to $2.86.
November 20, 2023 | 5:25 pm
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VCI Global Ltd has acquired Playstack's AI-based AdTech platforms, aiming to improve customer engagement and revenue generation. The company's cash position was $3.3 million as of mid-2023. Shares fell by 2.05% to $2.86.
The acquisition is directly related to VCIG's growth strategy and is likely to have a significant impact on the company's future revenue streams and customer engagement. The drop in share price indicates a short-term negative market reaction, possibly due to the lack of financial details or concerns about integration risks.
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