The RJRGLEANER (RG) Communications Group has signed an agreement to acquire a 15 per cent stake in Star Apple Analytics Limited, a local data analytics and artificial intelligence consulting company with regional and global reach.
The acquisition was done through the group’s St Lucia-based subsidiary Media Plus Limited. The deal is expected to close within the next 30 days, at which time Media Plus will occupy two seats on the Star Apple board.
“RG has already benefited from Star Apple’s impressive data analytics services through an existing commercial relationship and now looks forward to executing many opportunities which have surfaced from the valuable business insights gained through that engagement,” said Gary Allen, chief executive officer, commenting on the transaction.
Star Apple, formed in 2019, provides a range of information technology, consultancy and corporate data analytics training services. The company is believed to be poised to exploit a growing corporate demand for its services amid rising need for the implementation of digital transformation strategies by companies due to the ongoing novel coronavirus pandemic.
“Star Apple Analytics unearths meaningful insights from data and is excited at the prospect of helping clients turn those insights into competitive advantages and tangible returns. The investment from the RG group provides the company with working capital support needed to accelerate client acquisition,” commented Adrian Dunkley, CEO of Star Apple.
This latest investment by the RG group follows other strategic moves undertaken by the media and communications conglomerate as it positions its business as a diverse operation. The entity recently increased its ownership in e-commerce platform Gustazos to 50 per cent and acquired a 10 per cent stake in digital marketing firm, ePost Caribbean Limited.
Its investment in Star Apple “also aligns with the group’s strategy of building capacity to harness insights from its vast store of market data to buttress business decisions and enhance client offers”, a recent news release stated.