Thursday 28 Mar 2024
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KUALA LUMPUR (June 16): XOX Bhd has teamed up with DGB Networks Sdn Bhd to form a 50:50 net profit sharing partnership for the media management and advertising platform that will result from the national deployment of DGB Networks' next generation artificial intelligence (AI) vending machines.

In a bourse filing today, XOX said its unit XOX Media Sdn Bhd signed the joint venture (JV) agreement with DGB Networks as a follow up to the memorandum of understanding (MoU) entered between the two parties on April 16. The JV is for a period of 12 months.

“The parties are desirous of collaborating to monetise the media platform as an advertising, media and content provision business, through the organic increase of vending machine adoption as a source of sundry supplies.

“DGB Networks will provide next generation vending machines, complete with AI and touch screen interface as part of its digital services for e-commerce players. The machines are cashless to promote the usage of digital wallets,” it said.

Under the agreement, XOX Media will provide connectivity of these machines to contribute to the seamless creation of a stable digital advertising network.

The company will roll out up to 400 machines to be strategically positioned in their key market areas, to increase its footprint through the country and increase reload touchpoints, prepaid and postpaid sale points, and automated onboarding through Know Your Customer registration on the touch screens.

“The digital environment in Malaysia has already begun to see an uptick in adoption of digital enterprises. Consumers become more tech-savvy as the issuance of Movement Control Order disrupted the daily routines. This marked an increase in data consumption, digital advertising and e-commerce adoption across the board,” said XOX.

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