Xurpas buys into Indonesia's PT. Sembilan Digital

Xurpas Inc. is forging its way into the Indonesian market by acquiring a significant stake in the parent of mobile content developer Ninelives Interactive.

 

In a disclosure to the Philippine Stock Exchange, Xurpas on Friday said it bought a 49-percent interest in Indonesia's PT. Sembilan Digital Investema, owner of Ninelives Interactive. The deal was valued at $245,000.

 

The transaction gives Xurpas management control of the company which has been in the business of mobile content development and distribution with Indonesia's top carriers Telkomsel, XL Axiata and Indosat over the past three years.

 

Ninelives Interactive paves the way for Xurpas to access a huge market for games and other services.

 

“Indonesia is one of the most exciting mobile markets in the world with close to 300 million subscribers, making it the fourth largest mobile market in the world," Xurpas president and CEO Nix Nolledo said in a statement.

 

"Just like the Philippines, majority of users are still on pre-paid but they are rapidly moving away from fixed connections in favor of smartphones and mobile data. The striking similarity between the Indonesian market and ours makes it an ideal location to establish another stronghold,” he said.

 

Ninelives is the third company Xurpas has invested in since its initial public offering in December 2014.

 

The first was the $740,800 acquisition of a 21.78 percent stake in Singapore IT company Altitude Games PTE Ltd. 

 

This was followed by the acquisition of a 51-percent stake in Storm Flex Systems Inc. for $4.3 million. 

 

Last year, Xurpas registered a 60 percent increase in net income to P190.72 million from P119.49 million year-on-year – largely from mobile consumer business.

 

Revenues increased by 56 percent to P392.22 million from P252.06 million in the same comparable period. – Danessa O. Rivera/VS, GMA News