Datasonic Acquires Majority Stake in Digital ID and Authentication Specialist

Malaysia-based Datasonic Group Bhd has announced its plan to acquire a 51 percent stake in Innov8tif Holdings Sdn Bhd from Revenue Group Bhd for RM40 million. The deal, signed on November 4, 2024, includes performance guarantees requiring Innov8tif to achieve profit after tax of RM2.5 million for 2025 and RM3 million for 2026.

Innov8tif, which has been operating in Southeast Asia since 2011, specializes in digital ID verification and authentication solutions. The company gained prominence in 2019 when it integrated passive liveness detection technology into its EMAS eKYC platform, establishing itself as a significant provider of electronic know-your-customer (e-KYC) solutions in the ASEAN region.

The acquisition comes at a time of increasing demand for digital identity verification in Southeast Asia. Regional governments are accelerating digital economy frameworks that emphasize secure identity infrastructure, according to recent ASEAN initiatives. Innov8tif has successfully positioned itself in this growing market, serving telecommunications, banking, finance, and government sectors across multiple ASEAN countries.

For Datasonic, which currently provides identity document and security solutions, the acquisition represents a strategic expansion of its digital identity capabilities. The company plans to leverage Innov8tif’s AI-driven verification technology by integrating it with existing identity management systems, creating a more comprehensive digital onboarding solution portfolio.

The transaction is expected to reach completion in Q1 2025, pending necessary regulatory approvals.

Sources: The Malaysian Reserve, ID Tech Wire

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November 4, 2024 – by Ali Nassar-Smith

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