Xurpas Inc. is paring back its regional footprint, approving the sale of its 49 percent equity stake in PT Sembilan Digital Investama (PT SDI)—an investment it has held since 2015—as it looks to free up cash and refocus resources.
The transaction will bring in IDR5 billion, or roughly P17.6 million, which Xurpas said will be used to fund general and working capital requirements. PT SDI wholly owns PT Ninelives Interactive, a licensed mobile content developer in Indonesia, giving Xurpas indirect exposure to the Indonesian digital content market for nearly a decade.
While the sale price is modest, the move signals a pragmatic shift. After years of expansion bets across Southeast Asia, Xurpas appears to be prioritizing liquidity and balance sheet flexibility over minority stakes in overseas ventures that may no longer fit its near-term strategy.
The divestment also trims complexity. Exiting a non-controlling interest allows management to concentrate on core operations at a time when digital services companies are under pressure to demonstrate profitability and discipline, not just growth.
The deal for Xurpas is less about the headline amount and more about optionality. Fresh cash, even in small doses, matters for a company recalibrating its portfolio and navigating a more selective funding environment.
The sale closes a chapter that began in 2015. What comes next will hinge on whether Xurpas deploys the proceeds defensively—to shore up operations—or offensively, as dry powder for its next strategic pivot.
