{"id":765926,"date":"2023-06-26T08:04:53","date_gmt":"2023-06-26T12:04:53","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/vci-global-proposes-to-acquire-a-51-stake-in-ai-based-cogia-gmbh\/"},"modified":"2023-06-26T08:04:53","modified_gmt":"2023-06-26T12:04:53","slug":"vci-global-proposes-to-acquire-a-51-stake-in-ai-based-cogia-gmbh","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vci-global-proposes-to-acquire-a-51-stake-in-ai-based-cogia-gmbh\/","title":{"rendered":"VCI Global Proposes To Acquire A 51% Stake In AI-Based Cogia GmbH"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">KUALA LUMPUR, Malaysia, June  26, 2023  (GLOBE NEWSWIRE) &#8212; VCI Global Limited (NASDAQ: VCIG) (\u201cVCI Global\u201d, or the \u201cCompany\u201d) announced that it has proposed to acquire a 51% stake in Cogia GmbH from Cogia AG for a purchase consideration of USD5 million.<\/p>\n<p align=\"justify\">The purchase consideration will be settled by way of issuance of new VCI Global ordinary shares to Cogia AG.<\/p>\n<p align=\"justify\">Cogia GmbH is wholly owned by Cogia AG, a company listed on Dusseldorf Stock Exchange. Incorporated in Frankfurt am Main, Germany, Cogia GmbH itself is a software company which offers artificial intelligence (\u201cAI\u201d) based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring. Its vast customer portfolio includes major companies from various industries, such as Volkswagen, BMW, Lufthansa, IPSOS and the government of an European Union state.<\/p>\n<p align=\"justify\">\u201cWe at VCI Global feels that AI is the way of the future. This proposed acquisition will further entrench VCI Global\u2019s footprint on global AI related industries and services with the offering of unprecedented AI-enhanced technologies and consultancy services. We also considered Cogia as an ideal partner given the exceptional business opportunities and synergies, fuelled by our common visions. The strong positive feedbacks from capital markets merely endorse our decision to expedite this partnership now through a merger. This merger represents a pivotal moment, propelling us to greater heights,\u201d said Dato\u2019 Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.<\/p>\n<p align=\"justify\">&#8220;Excited to amplify our partnership with VCI Global through this strategic 51% acquisition, harnessing their financial expertise and core customer connections to fuel our global growth, with a sharp focus on dominating the\u00a0Asian\u00a0market,&#8221; said Pascal Lauria, Founder and Chief Executive Officer of Cogia GmbH.<\/p>\n<p align=\"justify\">\n        <strong>About VCI Global Limited <\/strong>\n      <\/p>\n<p align=\"justify\">VCI Global is a multi-disciplinary consulting group with key advisory practices in the areas of business and technology. The Company provides business and boardroom strategy services, investor relation services, and technology consultancy services.\u00a0Its clients range from small-medium enterprises and government-linked agencies to publicly traded companies across a broad array of industries. VCI Global operates solely in Malaysia, with clients predominantly from Malaysia, but also serves some clients from China, Singapore, and the US.<\/p>\n<p align=\"justify\">For more information on the Company, please log on to <em>https:\/\/v-capital.co\/<\/em>.<\/p>\n<p>\n        <strong>About Cogia GmbH<\/strong>\n      <\/p>\n<p align=\"justify\">Cogia GmbH is a software company based in Frankfurt am Main, Germany, founded in 2010. The company offers AI-based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring. The customer portfolio includes major companies from many industries, including Volkswagen, BMW, IPSOS, Lufthansa and the government\u00a0of\u00a0an\u00a0EU\u00a0state.<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Note Regarding Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This press release contains forward-looking statements that are subject to various risks and uncertainties. Such statements include statements regarding the Company&#8217;s ability to grow its business and other statements that are not historical facts, including statements which may be accompanied by the words &#8220;intends,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;plans,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;projects,&#8221; &#8220;predicts,&#8221; &#8220;estimates,&#8221; &#8220;aims,&#8221; &#8220;believes,&#8221; &#8220;hopes,&#8221; &#8220;potential&#8221; or similar words. Actual results could differ materially from those described in these forward-looking statements due to certain factors, including without limitation, the Company&#8217;s ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of Coronavirus (COVID-19) and future measures taken by authorities in the countries wherein the Company has supply chain partners, the demand for the Company&#8217;s products and the Company&#8217;s customers&#8217; economic condition, the impact of competitive products and pricing, successfully managing and, general economic conditions and other risk factors detailed in the Company&#8217;s filings with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any responsibility to update the forward-looking statements in this release, except in accordance with applicable law.<\/p>\n<p align=\"justify\">\n        <strong>CONTACT INFORMATION:<\/strong>\n      <\/p>\n<p align=\"justify\">\n        <strong>Issued by Imej Jiwa Communications Sdn Bhd on behalf of VCI Global Limited<\/strong><br \/>\n        <br \/>For media queries, please contact:<\/p>\n<p align=\"justify\">\n        <strong>Imej Jiwa Communications Sdn Bhd<\/strong><br \/>\n        <br \/>Chris Chuah<br \/>Email: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Iwt0iwjDK55GocQpvWplTCke3aOpcgj8_EI7SyfiMcxd7hooKsgT0hQNkWDAyin7SEBiMR698VKyjQ_9MukhDhoQk2OjLsHD2yXuRbj6q9w=\" rel=\"nofollow noopener\" target=\"_blank\">chris@imejjiwa.com<\/a>\u00a0<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg2NDM2NyM1NjY0MTIwIzIyNTg4Mzg=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/ZDhjYzFmMzQtZDA1YS00MTZkLWE5Y2YtNmNkMzMxNWM5NzYwLTEyNzAzODc=\/tiny\/VCI-Global-Limited.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR, Malaysia, June 26, 2023 (GLOBE NEWSWIRE) &#8212; VCI Global Limited (NASDAQ: VCIG) (\u201cVCI Global\u201d, or the \u201cCompany\u201d) announced that it has proposed to acquire a 51% stake in Cogia GmbH from Cogia AG for a purchase consideration of USD5 million. The purchase consideration will be settled by way of issuance of new VCI Global ordinary shares to Cogia AG. Cogia GmbH is wholly owned by Cogia AG, a company listed on Dusseldorf Stock Exchange. Incorporated in Frankfurt am Main, Germany, Cogia GmbH itself is a software company which offers artificial intelligence (\u201cAI\u201d) based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring. Its vast customer portfolio includes major companies from various &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vci-global-proposes-to-acquire-a-51-stake-in-ai-based-cogia-gmbh\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;VCI Global Proposes To Acquire A 51% Stake In AI-Based Cogia GmbH&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-765926","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VCI Global Proposes To Acquire A 51% Stake In AI-Based Cogia GmbH - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vci-global-proposes-to-acquire-a-51-stake-in-ai-based-cogia-gmbh\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VCI Global Proposes To Acquire A 51% Stake In AI-Based Cogia GmbH - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"KUALA LUMPUR, Malaysia, June 26, 2023 (GLOBE NEWSWIRE) &#8212; VCI Global Limited (NASDAQ: VCIG) (\u201cVCI Global\u201d, or the \u201cCompany\u201d) announced that it has proposed to acquire a 51% stake in Cogia GmbH from Cogia AG for a purchase consideration of USD5 million. The purchase consideration will be settled by way of issuance of new VCI Global ordinary shares to Cogia AG. Cogia GmbH is wholly owned by Cogia AG, a company listed on Dusseldorf Stock Exchange. Incorporated in Frankfurt am Main, Germany, Cogia GmbH itself is a software company which offers artificial intelligence (\u201cAI\u201d) based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring. 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