August 1, 2017
Official Release

CMIA Capital Partners and Affin Hwang Asset Management Lead Acquisition of Majority Stake in Bitsmedia Holdings Limited, Which Owns Muslim Pro

SINGAPORE, 1 August 2017 – CMIA Capital Partners, in partnership with Affin Hwang Asset Management (“AHAM”), have today led the acquisition of a majority stake in Bitsmedia Holdings Limited. (“Bitsmedia”). Bitsmedia is the company behind Muslim Pro, the world’s number one mobile application serving the global Muslim population.

The mobile application provides Muslims with accurate prayer times regardless of where they are in the world, as well as features such as Qibla (the direction of prayer), Quran, Duas, a Zakat calculator, and even includes a community forum, amongst others. To-date, Muslim Pro has achieved 45 million downloads by users from 205 countries, more than 10 million Monthly Active Users (“MAU”) and more than 2 million Daily Active Users (“DAU”). The mobile application is available in more than 15 languages, including in Arabic, Chinese, English, French, German, Indonesian, Malay and Urdu. It is available on both Android and iOS devices.

Mr. Erwan Mace, Founder and CEO of Bitsmedia, said “We are very pleased to be in partnership with CMIA Capital Partners and AHAM. There are around 1.7 billion Muslims in the world, with Asia having by far the largest concentration of Muslims globally. The Muslim Pro application seeks to meet the needs of this community, providing them with accurate and good information. We promote a wholesome environment for Muslims to practice their faith, whilst maintaining a neutral position on the various teachings of the Islamic faith.”

Mr. Lee Chong Min, Managing Partner of CMIA Capital Partners, said “This partnership represents a tremendous opportunity for Bitsmedia to take its business to the next level. Buoyed by the collaborations with Halal food vendors, Haj and religious authorities as well as e-commerce partners, the Muslim Pro application serves as a comprehensive and convenient platform for Muslims around the world. Bitsmedia is a highly profitable business, with current earnings primarily derived from digital advertising and paid upgrades. We are open to exploring win-win business partnerships with other organizations and digital businesses.”

Mr. Johan Rozali-Wathooth, Deputy Managing Director of AHAM, said “We are very pleased to be in partnership with Bitsmedia and CMIA Capital Partners in our maiden private equity transaction. As a fellow Muslim, I am delighted that we are making this investment in Muslim Pro to bring convenience and ease of practising the religion to the Islamic population globally. We are especially looking forward to helping Erwan, who will stay on as a substantial shareholder and key executive of the business, to develop the Muslim Pro platform further. AHAM hopes to leverage our deep ties both in Malaysia as well as the South East Asia region to help Bitsmedia execute its growth strategy.”

Bitsmedia was established in 2009 and started specialising in the development of mobile applications for corporate clients as well as the development and publishing of its own applications. In 2012, Bitsmedia decided to re-focus solely on Muslim Pro, the most promising of its several titles back then.

Muslim Pro was first launched in August 2010 to test the Indonesian market, which was regarded as a very promising land for the upcoming mobile Internet back then. Nonetheless, even though Indonesia has the largest Muslim population worldwide, the smartphone penetration was still much lower than in developed countries like the US, France and the UK where the mobile application enjoyed a booming success almost immediately. Indonesia and Malaysia started to pick up a few years later and are now the first and third biggest markets for the mobile application in terms of user base.