SPH Media has entered into an agreement to acquire the well-established technology media company, Tech in Asia (TIA). The move will strengthen the offerings of SPH Media and its financial daily The Business Times (BT).
TIA’s commitment to high-quality content and events aligns well with BT's vision of becoming the leading business title in APAC. The proposed acquisition will help both TIA and BT bring more value to their audiences, which include businesses and readers in the region.
This will also support SPH Media’s broader transformation efforts in the longer term and accelerate BT’s goal of becoming a regional player for business & tech news and events.
“By coming together with their strengths and capabilities, BT and TIA present an exciting business proposition in Asia, centred on good journalism,” said Mr Wong Wei Kong, Editor-in-Chief, English/Malay/Tamil Media Group at SPH Media. “For SPH Media, this acquisition is a strategic move that will enable us to provide our readers with a more comprehensive suite of products and services.”
"We are committed to delivering top-notch content and events, and with SPH Media by our side, we are poised to achieve even greater heights," said Mr Willis Wee, CEO, and founder of Tech in Asia. "We are enthusiastic about the opportunities this acquisition will bring. Rest assured, our startup spirit and data-driven approach will remain at the core of our competencies post-M&A.”
Established in 1976, The Business Times is Singapore’s sole financial daily, with print and digital editions that provide news and commentaries on markets, companies, start-ups, wealth, property, lifestyle and small and medium-sized enterprises in Singapore, Asean and globally.
Digital news publication Tech in Asia was founded in 2010 and is one of the pioneers of business tech media in the region, covering start-up and venture capital news for a user base spanning mainly South-east Asia, India and North America. It also has a regional events network and corporate customers across several markets.
The acquisition is subject to customary closing conditions and is expected to close by the end of 2023. Financial terms of the transaction will not be disclosed.
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