NCS, an ICT services provider based in Singapore and a member of Singtel Group, has entered into an agreement to acquire 2359 Media, a local digital services consultancy focused on ideating and building digital products and platforms.
The transaction details are not known.
The completion of the acquisition is subject to fulfilment of closing conditions.
As per a statement, the deal will enhance NCS’s capabilities in agile development, design thinking and cloud native application development, complementing its NEXT service offerings in digital, cloud, platforms and cybersecurity.
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Post-acquisition, 2359 Media, which also has offices in Vietnam and Indonesia, will become part of NCS NEXT digital arm.
The combination of 2359 Media with NCS NEXT’s digital capabilities and strengths in large-scale application and infrastructure implementations will offer clients access to a range of digital services — from design thinking, rapid prototyping, cloud native app development, to creation of innovative digital solutions.
Ng Kuo Pin, CEO of NCS, said: “By leveraging on the strengths of 2359 Media in creating innovative mobile apps and solutions, we are in an even stronger position to help our clients accelerate their digital transformation agendas through experience design and purposeful adoption of digital technologies.”
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According to Research and Markets, the global digital transformation market is expected to grow at a compound annual growth rate of 22.5 per cent from 2020 to 2027, to reach US$1,392.91 billion by 2027, with the Asia Pacific region accounting for US$379.95 billion in 2027.
Wong Hong Ting, CEO and Founder of 2359 Media, said: “Joining NCS NEXT presents a strategic opportunity for us to drive acceleration of digital solutions across a variety of industries. We started our company with the purpose of transforming the way people live and work through innovative application of digital technologies. With the backing of NCS’s resources and NCS NEXT services teams, we can create lasting impact and deeper changes with clients in Singapore and the region.”
2359 Media was part of the consortium led by Enigma Group to apply for a digital bank licence in Singapore.
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Image Credit: NCS
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