VCI Global Acquires 51% Stake In Software Company Cogia For $5M

VCI Global Ltd (NASDAQ:VCIG) will acquire a 51% stake in Cogia GmbH for $5 million.

The purchase consideration will be settled by way of issuance of new VCI Global ordinary shares to Cogia AG.

Incorporated in Frankfurt am Main, Germany, Cogia GmbH is a software company offering artificial intelligence (AI) based, fully privacy-compliant solutions in the areas of secure communications, cybersecurity, Big Data Analytics and web monitoring.

The acquisition is expected to entrench VCI Global's footprint on global AI-related industries.

VCI, a consulting group, has a customer portfolio that includes companies like Volkswagen (OTC:VWAGY), BMW (OTC:BMWYY), and Lufthansa, IPSOS (OTC:IPSOF).

Price Action: VCIG shares are trading lower by 0.33% at $6.06 in premarket on the last check Monday.

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