Novatti (ASX:NOV) acquires ATX to expand foothold in Malaysia

ATX Malaysia Sdn Bhd has been acquired by multi-channel payments company Novatti (ASX:NOV) of Australia it announced today.

ATX is recognized as one of the top 50 Southeast Asian start-ups offering a variety of B2B and B2C payment services. The network includes over 31,000 touchpoints that allow residents to pay invoices, buy cards, recharge cards, and send money. Nestled in Malaysia, ATX gives brick-and-mortar stores as well as kiosks the access to digital payment services of third-party bill and product payment services. This momentous acquisition is seen as a pivotal step for Novatti’s ambitious outlook. ATX has been a working partner with Novatti (ASX:NOV) since 2015 largely focused on leveraging Novatti’s technology in providing digital payment solutions to Malaysian businesses.

In FY21, ATX produced normalised yearly income of RM 9.3 million and EBITDA of RM 1.8 million which implies that Novatti’s annual sales revenue will grow from RM 51.4 million to RM 60.7 million for the financial year, an increment of 18%.