AirAsia Group Berhad (AAGB) has transferred its
digital businesses to Redbeat Ventures Sdn Bhd (RBV), a wholly
owned subsidiary.

In a filing with Bursa Malaysia on Monday, AAGB
revealed that RBV entered into a share sale agreement with AirAsia
Berhad and AirAsia Investment Ltd respectively on 25 June 2018 to
acquire nine non-airline digital businesses as well as their
subsidiaries.


AirAsia Group Berhad (AAGB) has transferred its digital businesses to Redbeat Ventures Sdn Bhd (RBV), a wholly owned subsidiary. In a filing with Bursa Malaysia on Monday, AAGB revealed that RBV entered into a share sale agreement with AirAsia Berhad and AirAsia Investment Ltd respectively on 25 June 2018 to acquire nine non-airline digital businesses as well as their subsidiaries. Click to enlarge.

The entities, principally involved in the
provision of digital-related services, include: AirAsia BIG
Loyalty, BigPay, travel360, ROKKI, Ourshop, RedCargo Logistics,
RedBox Logistics, Vidi and RedTix.

AirAsia Deputy Group CEO
(Digital, Transformation and Corporate Services) Aireen Omar said,
“By placing our digital assets under Redbeat Ventures, we hope to
more effectively expand and monetise our digital businesses and
broaden AirAsia’s digital footprint. As the corporate venture arm
of AAGB, RBV looks at working with technology startups and looks
out for investment opportunities in the high-tech and digital
space to remain competitive and relevant in these rapidly changing
commercial and technological environments. The
vision for RBV is to connect with the start-up community globally
through collaboration to foster entrepreneurship and stimulate
market-driven innovation that would benefit not just AirAsia’s
ecosystem but help lead the digital economy and lifestyle in
ASEAN.”

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