Carsome cements tech unicorn status with US$200m iCar Asia acquisition
Carsome Group has acquired 19.9% of iCar Asia from Catcha Group. Carsome and Catcha Group have also made a joint proposal to iCar Asia’s independent directors to acquire the balance of 80.1% of iCar from its shareholders. The total transaction is estimated to be worth more than US$200 million and according to Carsome, makes it Malaysia’s first tech unicorn. It also reportedly cements Carsome’s position as Southeast Asia’s most valuable digital automotive marketplace.