VCI Global Hits Key Growth Milestone by Completing Its Second Technology Acquisition; a Leading AI Gamification Platform Serving Global Brands

KUALA LUMPUR, Malaysia, April 15, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), a disruptive technology and IP aggregator and capital markets advisor based in Southeast Asia, announced the acquisition of two leading AI gamification brand engagement platforms on mobile from a UK-based games developer. The acquisition of the “ENGAGE” and “Interact” platforms opens up vast new monetization channels in brand marketing to VCIG, with global mobile advertising spending projected to hit $400 billion in 2024, with $136 billion (Martech) being spent on mobile games alone by 2025, and 65% of all US digital advertising spend directed towards mobile platforms (Oberlo). With opportunities across both Western and Asian markets alike, VCIG will sit at the center of global brand spend, bridging the digital and real-world consumer engagement and interactions.

Focused on data-driven customization of user and brand interaction, ENGAGE and Interact are creating a vast new digital engagement vertical in brand management with global reach across brands and retailers of all sizes. During its trial period ENGAGE generated over 1 million downloads and over 500,000 monetized retail footfall check-ins in the UK alone, building strong relationships with over 300 brands, including global companies such as Unilever, Warner Bros, Sky TV and Danone. With each consumer interaction event earning approximately $1.50, the opportunity to grow revenues is vast given its global application and targeted reach, and with most revenues being digital, the opportunity to deliver scalable high margin growth is enormous.

These platforms represent a paradigm shift in brand marketing, leveraging gamification, artificial intelligence (AI), and augmented reality (AR) to engage users and brands alike, driving retention, spending, and activations to maximize brand visibility on mobile devices globally. VCIG will license this technology to existing reward and loyalty platforms, global brands and large fan-based sports and music events, providing multiple opportunities to expand its reach to millions of consumers and thousands of brands and events and to integrate and enhance monetization of existing and future VCIG relationships and investments.