Tag: Acquisition

Singapore – Grab, a ride-hailing company, has acquired the restaurant reservation platform Chope–according to various sources. Grab’s goal is to help level the playing field for small and medium-sized enterprises, who make up the great majority of merchants on its platform but lack the resources of large food and beverage companies. 

Grab will acquire Chope’s operations in Singapore, Indonesia, and Thailand. The acquisition of Chope will strengthen Grab’s omni-commerce strategy and help it enhance its goal of conquering the dining-out market. 

Speaking about the acquisition, Arrif Ziaudeen, founder at Chope, said, “Chope has built products that have served and delighted countless restaurants and their customers for over a decade. We have proudly achieved so much on our journey. Together (with Grab), we are poised to deliver even greater value to our customers and set new standards in a competitive industry.”

In line with acquisitions, Grab acquired the meal review and reservation service HungryGoWhere in 2022, which had shuttered in 2021. Grab redesigned the site and announced that it could use insights from Grab’s super app, such as cuisine trends and popular Singapore destinations.

Singapore – Global financial services company Allianz has announced that it is set to acquire at least 51% of the shares in leading local insurer Income Insurance. The insurance, which is still subject for regulatory approval, will be done through its wholly owned subsidiary Allianz Europe B.V. 

The planned acquisition is expected to elevate Allianz’s presence in the fast-growing and attractive Singapore insurance market and establishes the company as one of the largest composite insurers in Asia. 

Moreover, the acquisition leverages Allianz’s capabilities in underwriting, product development, and data analytics with Income Insurance’s impressive market reach and strengths in distribution, partnerships, and people. 

The integration of the businesses would result in top positions for Allianz in all segments – Property and Casualty (P&C), Health, and Life – in Singapore. It would also position Allianz to realize significant synergy and capital optimization potential. The transaction is expected to generate a double-digit Return on Investment for Allianz in the mid-term. Closing is expected in the fourth quarter of 2024 or in the first quarter of 2025. 

Renate Wagner, member of the board of management at Allianz, said, “We look forward to partnering with Income Insurance, a leading insurer that shares Allianz’s values and commitment to customer excellence. This proposed transaction brings two strong businesses together for the benefit of Singapore’s customers and solidifies Allianz’s leadership position in the region.”

Meanwhile, Anusha Thavarajah, regional chief executive officer at Allianz Asia Pacific, commented, “We are excited at the prospect of the coming together of Allianz, the #1 global insurance brand, and Income Insurance, Singapore’s trusted and leading insurance brand. Asia holds great strategic importance for Allianz, and we are committed to investing in Singapore by partnering with a well-respected local institution.”

She added, “As Singapore and the region benefit from advancements in technology and healthcare and continue to grow in affluence, we firmly believe in the pivotal role of insurance in society to protect and grow their financial security and the well-being of our customers and partners.” 

Allianz intends to offer SGD 40.58 per share for a total transaction value of approx. SGD 2.2 billion (approx. EUR 1.5 billion) for 51 percent of the shares in Income Insurance. 

Meanwhile, NTUC Enterprise Co-operative Ltd–the parent company of Income–will continue to retain a substantial stake in Income Insurance, and together with Allianz, will establish a highly competitive powerhouse focused on Life & Health and Property & Casualty insurance in Singapore.

United States – Popular American streetwear clothing brand Supreme is set to be acquired by EssilorLuxottica for US$1.5b after the brand’s parent company VF Corporation entered into a definitive agreement with EssilorLuxottica to acquire said brand in cash.

The transaction is expected to close by the end of CY2024, subject to customary closing conditions and regulatory approvals. The Supreme brand runs a digital-first business and 17 stores in the U.S., Asia and Europe. The sale of Supreme is expected to be dilutive to VF’s earnings per share in fiscal 2025.

Speaking about the brand’s acquisition, Supreme founder James Jebbia, said, “In EssilorLuxottica, we have a unique partner that understands that we are at our best when we stay true to the brand and continue to operate and grow as we have for the past 30 years. This move lets us focus on the brand, our products, and our customers, while setting us up for long-term success.”

Meanwhile, Bracken Darrell, president and chief executive officer at VF commented, “Under VF, Supreme expanded its presence in the key markets of China and South Korea and has returned to delivering strong growth. However, given the brand’s distinct business model and VF’s integrated model, our strategic portfolio review concluded there are limited synergies between Supreme and VF, making a sale a natural next step. Alongside the other notable brands in EssilorLuxottica’s portfolio, Supreme and its talented team will be well-positioned for continued success.” 

He continued, “While we will always look to adjust the VF portfolio from time to time, this transaction gives us increased balance sheet flexibility. It also supports our overall program to better position the company for long-term growth and more normalised debt levels.”

Lastly, Francesco Milleri, chairman and chief executive officer and Paul du Saillant, deputy chief executive officer at EssilorLuxottica said, “We see an incredible opportunity in bringing an iconic brand like Supreme® into our Company. It perfectly aligns with our innovation and development journey, offering us a direct connection to new audiences, languages and creativity.”

They added, “With its unique brand identity, fully direct commercial approach and customer experience – a model we will work to preserve – Supreme will have its own space within our house brand portfolio and complement our licensed portfolio as well. They will be well-positioned to leverage our Group’s expertise, capabilities, and operating platform.”

Singapore – Global digital advertising company Aleph Group has announced that it has completed the acquisition of Entravision Global Partners (EGP), the digital commercial partnership business unit of Entravision Communications Corporation.

This strategic move significantly expands Aleph’s global footprint, solidifying its position as the single point of access for global digital media platforms seeking to reach audiences across Latin America, Asia-Pacific (APAC), the Middle East, Africa, and Europe. 

With this, Aleph now reaches over 140 countries, empowering over 60 digital media platforms and over 26,000 advertisers with direct access to a combined audience of 3 billion consumers.

Through this acquisition Aleph will also strengthen its presence in 29 markets, through Southeast Asia (formerly MediaDonuts), Latin America, and Central America (formerly Cisneros Interactive), extending its relationships with partners such as TikTok, X (formerly Twitter), Spotify, Pinterest, Criteo, Snapchat, and others.

Gaston Taratuta, CEO and founder at Aleph Group, stated, “The acquisition of EGP marks an important milestone for Aleph. We have great respect for what they built as a worthy competitor. With EGP’s deep roots in key Central America and APAC markets, this acquisition perfectly complements our existing global network. Aleph is now the only and undisputed global leader in enabling digital marketing in emerging economies.”

He added, “As Aleph approaches its 20 year anniversary in 2025, we are building a generational business, and we look forward to continued growth and success. The shift from offline to online GDP is accelerating, and we are committed to driving digital communication, payments and education in these markets.”

Australia – Hoozu, an influencer marketing agency and a subsidiary of IZEA Worldwide has announced the acquisition of 26 Talent, an Australian talent management agency. This strategic acquisition strengthens Hoozu’s capabilities and expands its footprint in the Asia-Pacific (APAC) region, in line with IZEA’s global M&A strategy.

The acquisition of 26 Talent marks a significant milestone in Hoozu’s journey. It reinforces the company’s commitment to growth, expanding its influence and capabilities through strategic mergers and acquisitions. This move is part of a broader strategy to build a diverse and robust portfolio of services and talent that can cater to the evolving needs of brands and creators across the region.

Moreover, with 26 Talent’s strong reputation and innovative approach to talent management, Hoozu is set to enhance its service offerings significantly. The integration will provide clients access to a broader range of influencers, more comprehensive marketing solutions, and cutting-edge strategies that drive engagement and results. 

This synergy is also expected to unlock new opportunities for both brands and creators, ensuring that Hoozu remains at the forefront of influencer marketing trends.

“This acquisition is a testament to IZEA’s commitment to growing its presence in the APAC region, both organically and through strategic acquisitions. By integrating 26 Talent’s expertise and network, Hoozu aims to deliver unparalleled influencer marketing solutions, fostering creativity and driving impactful campaigns,” according to a press statement.

As part of the acquisition, the agency will be folded under Huume, Hoozu’s talent representation business. Mikhailla Fitzgerald, founder and CEO of 26 Talent, will lead Huume, reporting directly to Natalie Giddings, CEO of Hoozu, ensuring a smooth transition and integration.

“Joining forces with Hoozu opens up remarkable opportunities for our talent and clients. We are thrilled to become part of a forward-thinking company that shares our commitment to excellence and innovation in influencer marketing,” FItzgerald said.

Meanwhile, Giddings commented, “We are incredibly excited to welcome 26 Talent into the Hoozu family. Their impressive roster of talent and innovative approach to influencer marketing perfectly align with our mission to lead the industry in APAC. This acquisition not only broadens our capabilities but also enhances the value we bring to our clients and creators.”

Manila, Philippines – Jollibee Foods Corporation (JFC) has announced that is acquiring a majority stake in Compose Coffee, a South Korean coffee chain. According to a recent disclosure from JFC, the group shall acquire a majority shareholding of effectively 70% in said coffee chain. The rest of Compose Coffee’s shareholders are Titan Dining II LP (5%) and Elevation (25%).

Moreover, the total consideration for the acquisition is approximately US$340m (~KRW470b). JFC closed this deal at a more favourable transaction multiple compared to average EV/EBITDA multiple in the coffee industry. Completion of this transaction is subject to closing and financing conditions, final purchase price to be confirmed thereafter.

JFC notes that the acquisition is aligned with JFC’s commitment to Coffee and Tea Segment and franchising initiatives. This strategic, rapid growth, financially lucrative investment serves as JFC’s gateway in unlocking the fast-growing international value coffee market in South Korea which ranks third globally in terms of coffee consumption per capita.

Tony Tan Caktiong, chairman at Jollibee Foods Corporation, said, “The business that Compose Coffee has built in the past 10 years is impressive and we are excited to play a major role in its next phase of growth. We believe that Compose Coffee is a compelling strategic fit for JFC and is on track to becoming the largest, fastest growing and leading value coffee player in South Korea.” 

He added, “Together with Elevation and Titan Fund II, we look forward to working with the Compose Coffee’s accomplished management team to further accelerate the company’s growth in existing and new markets and capture the significant whitespace in South Korea’s value coffee market.”

It is worth noting that JFC has made significant investments to multiple food franchises in Asia, including Singapore’s Tiong Bahru Bakery and Common Man Coffee, as well as China’s Tim Ho Wan.

Jakarta, Indonesia – PT Global Digital Niaga (BELI), the parent company of companies such as the e-commerce player Blibli, travel agency Tiket.com, and Ranch Market supermarket chain–has announced that it has announced Dekoruma, a local home decor startup, for IDR 1.16t or approximately US$70.6m. This is according to the latest stock disclosure by the company on the Indonesian Stock Exchange (IDX).

According to the disclosure, BELI bought 26,217 shares which represents 99.83% of Dekoruma’s ownership. Said transaction was completed on June 20.

Additionally, according to BELI’s statement, the acquisition is anticipated to strengthen Blibli’s operations, particularly in the home and living vertical, and allow Blibli and Dekoruma to unite as an integrated enterprise for both online and offline commerce. Blibli, a company with a wealth of experience in both traditional and online commerce, plans to combine these channels to maximize the synergy between the two businesses. 

Dekoruma was founded in the year 201S. It links customers with interior designers, contractors, property developers, and retailers of home furnishings. The business has collaborated with over 5,000 designers and constructors and served over a million clients. On its website, Dekoruma lists more than 100 banks and real estate developers as partners. 

Singapore – NP Digital, a global digital marketing agency, has announced its agreement to acquire digital agency SearchGuru, expanding its portfolio and market reach in the Asia-Pacific region. 

NP Digital’s acquisition of SearchGuru will accelerate its APAC expansion, drive innovation in digital marketing solutions, and strengthen its market presence in the region.

SearchGuru brings a strong heritage in performance marketing, perfectly aligning with NP Digital’s customer-centric values and culture. With a market-leading reputation and a proven track record of delivering exceptional results for top brands like Club Med, Nespresso, Maybank, and DHL across Asia, SearchGuru will enhance NP Digital’s portfolio by adding in-market SEO, paid media expertise, creative capabilities, and top talent.

The agreement will enable the combined entity to offer a comprehensive suite of performance marketing solutions, from media, creative, and content to CRO and data. By harnessing NP Digital’s robust technology stack and leveraging SearchGuru’s extensive experience in Asian markets, this partnership is poised to deliver exceptional value and ROI to clients in key verticals such as finance, insurance, travel, and beauty.

Furthermore, with offices in high-demand markets such as Australia, India, Malaysia, Singapore, and Hong Kong, the acquisition will add an additional 120 digital marketers to its 270-strong APAC team and unlock new opportunities for synergy and market penetration. 

NP Digital’s agreement to acquire SearchGuru underscores its commitment to innovation and expansion in the rapidly evolving landscape of performance marketing in the region.

Dan Kalinski, managing director of APAC at NP Digital, shared, “NP Digital’s agreement to acquire SearchGuru marks an exciting chapter in our journey. We are eager to welcome SearchGuru to the fast-growing NP Digital family. This collaboration strengthens our foothold in the APAC region, affirming our commitment to serving our clients with unparalleled innovation and excellence in performance marketing. By synergizing our expertise, resources, and unwavering dedication, we’re poised to push the boundaries of what’s possible in the digital marketing landscape and deliver greater value and impact to our clients’ businesses.”

Mike Gullaksen, CEO of NP Digital, further added, “This acquisition reaffirms our commitment to customers by expanding and diversifying our APAC talent and capabilities, better enabling us to support their needs and take advantage of new opportunities around the globe. Integrating SearchGuru into our ecosystem not only expands our industry-leading scale and expertise, but now enhances our ability to empower APAC businesses with cutting-edge digital strategies and measurable results culturally and geographically.”

Also speaking on the acquisition, Larry Lim, CEO of SearchGuru, said, “It’s been an amazing journey growing from a local 4-man agency to a regional player with over 120 specialists while delivering 11 consecutive years of revenue growth in the process. Joining NP Digital will elevate us further to the global stage while simultaneously allowing us to also tap into their vast industry skill set and experience, in-house tools, and established processes.”

Global digital behaviour aggregator company SQREEM Technologies had recently acquired contextual digital advertising platform TotallyAwesome, which will see TotallyAwesome’s extensive reach of over 900 million users and human-curated whitelists be integrated into SQREEM’s proprietary AI technology.

Through the acquisition, the pair will form the largest behaviour audience repository on the planet, reaching over 2.4 billion consumers in 80 countries. With the acquisition being a significant industry move in terms of providing safe contextual advertising options for advertisers not only in Asia-Pacific but also globally, what’s behind-the-scenes of this acquisition move from SQREEM and what new offerings can the industry expect?

For our latest Top Story feature, MARKETECH APAC spoke exclusively to Ian Chapman-Banks, chief executive officer at SQREEM to better understand their goal of acquiring TotallyAwesome, and what’s next for SQREEM in terms of offering new advertising solutions to new markets globally.

Broadened product offering and leveraged synergies

For Ian, the acquisition of TotallyAwesome significantly adds value to SQREEM by expanding its market reach to include youth and family demographics, bolstering its technological capabilities, and broadening its competitive edge with more comprehensive advertising solutions. 

“This acquisition brings new clients and cross-selling opportunities, creating additional revenue streams. Operational synergies from the integration lead to streamlined processes, strengthening SQREEM’s position as a leading behavioural aggregator. It also fosters new product development, driving innovation, and enhances SQREEM’s brand reputation and market credibility,” he said.

When asked what are the main factors that contributed to SQREEM’s acquisition of TotallyAwesome, Ian listed five factors–enhancing capabilities in targeted youth advertising, expanding market presence, leveraging synergies, strategic growth, and broadening product offering.

Speaking of enhanced capabilities, he notes that as TotallyAwesome specialises in youth digital media and family-friendly advertising, this will allow SQREEM to expand its reach in this specific demographic. Moreover, this complements SQREEM’s existing capabilities in behavioural aggregation and targeted advertising, enabling more precise and effective campaigns tailored to younger audiences.

“TotallyAwesome’s established presence in the youth and family advertising sector provides SQREEM with immediate access to a new customer base and market segment. This helps diversify SQREEM’s portfolio and strengthens its market position. The integration of TotallyAwesome’s user base with SQREEM’s AI-driven insights creates synergies that can enhance the performance and efficiency of their combined solutions. This includes improved targeting, better customer insights, and more effective and ethical ad placements,” he further explained.

Lastly, Ian notes that by acquiring TotallyAwesome, SQREEM can accelerate its growth trajectory and scale more rapidly, aligning with its goal to become a billion-dollar unicorn by 2026.

Improving advertising compliance, safety standards

For Ian, one of the biggest benefits of acquiring TotallyAwesome is how it has developed proper industry measures and solutions that include youth and family-focused advertising, content creation, and stringent compliance with safety standards like COPPA and GDPR–across it own suite of products.

“In APAC, SQREEM faces challenges such as navigating the diverse regulatory environments across different countries, each with its own data privacy laws and standards for protecting young users, like COPPA and GDPR. Ensuring compliance while maintaining effective engagement can be complex and resource intensive,” he remarked.

Some of TotallyAwesome’s solutions include contextual advertising expertise which can offer privacy-compliant, cookie-free advertising solutions, crucial for targeting youth safely and effectively; as well as ensuring safe and relevant ad placements across diverse channels like apps, gaming, and social media.

Ian also understands that despite many nuances on cultural differences and varying levels of digital literacy in terms of driving safe and effective advertising solutions in APAC, there is still a great deal of opportunities in the region. He adds that the region boasts one of the largest and most digitally engaged youth populations in the world. Moreover, he notes that this demographic is highly active on social media and other digital platforms, making it a prime target for innovative, youth-focused advertising campaigns. 

“By leveraging TotallyAwesome’s expertise in creating safe, compliant, and engaging content for young audiences, SQREEM can provide brands with effective tools to reach this lucrative market. Furthermore, the integration of TotallyAwesome’s programmatic advertising solutions with SQREEM’s AI and data analytics capabilities can enhance the precision and effectiveness of campaigns, offering brands unprecedented insights and engagement opportunities with the youth demographic in APAC,” he stated.

Strengthening cookie-less solutions and other advertising offerings

Amidst continued industry movement towards privacy-centric advertising solutions, Ian has stressed SQREEM’s commitment to enhancing its cookie-less solutions to better serve its partners and clients in the APAC region. For him, by leveraging advanced AI-powered behavioural analytics, SQREEM can accurately identify user patterns and preferences without relying on cookies.

“To ensure privacy and compliance, SQREEM integrates first-party data from clients while adhering to regional privacy regulations like GDPR and PDPA. Strengthening industry alliances and collaborating with key players allows SQREEM to develop and promote cookie-less standards tailored to the APAC market,” he said.

Ian also noted how technological upgrades, such as enhanced machine learning models and robust cross-device tracking, had enabled SQREEM to understand user behaviour through non-cookie-based signals, providing a comprehensive view of user journeys across devices. Moreover, innovative solutions like predictive analytics and scalable personalisation techniques further enhance user engagement and conversion rates.

“To support clients in transitioning to cookie-less solutions, SQREEM offers workshops, training sessions, and ongoing resources. Clear performance metrics and transparent reporting demonstrate the effectiveness of cookie-less campaigns compared to traditional methods,” he said.

He further added, “SQREEM aims to provide robust, privacy-compliant, and effective cookie-less solutions, ensuring its partners and clients in APAC can continue to achieve their marketing goals in a rapidly evolving digital landscape.”

What’s next for SQREEM globally?

Following the acquisition of TotallyAwesome, Ian had already hinted on his LinkedIn post that SQREEM aims to expand its presence and offerings to other markets, including in the Middle East and Latin America. For this, we asked: what’s the roadmap for this?

“Our recent acquisition, TotallyAwesome, will play a pivotal role in this expansion. TotallyAwesome offers a managed service for the curation of whitelists and safe, compliant activation for children and parents. This service will be crucial in rapidly building whitelists in the four largest markets in the Middle East (Saudi Arabia and UAE) and LATAM (Brazil and Mexico). These markets, characterized by a high percentage of young people, present significant opportunities for growth,” Ian explained.

He also noted that SQREEM already had a presence in the Middle East and LATAM regions through direct sales and distribution partners, and for them leveraging this existing infrastructure, SQREEM plans to scale up its operations by enhancing its local market capabilities.

“We are already operationally ready to expand, having set up channels in key cities like Rio and São Paulo during recent visits. This groundwork ensures that SQREEM is well-prepared to leverage its partnerships and distribution capabilities to penetrate these markets effectively,” he concluded.

Singapore – Singapore-headquartered SQREEM Technologies, a global digital behaviour aggregator company, has announced its definitive acquisition of Singapore’s TotallyAwesome, a contextual digital advertising platform specialising in youth marketing in the Asia-Pacific region.

The deal will integrate TotallyAwesome’s extensive reach of over 900 million users and human-curated whitelists with SQREEM’s proprietary AI technology to produce enhanced, precision-targeted web environments for young users and their families, significantly increasing safety in ad placements. 

Together, the pair will form the largest behaviour audience repository on the planet, reaching over 2.4 billion consumers in 80 countries.

Moreover, the acquisition strategically positions SQREEM to navigate the complex landscape of ethical youth marketing, especially as global conversations increasingly emphasise the responsible use of AI in targeting vulnerable audiences. 

By extending SQREEM’s product suite to include comprehensive, age-appropriate solutions, the purchase combines SQREEM’s advanced AI-driven behavioural database and TotallyAwesome’s robust understanding of youth audiences and their digital experiences across 14 key Asia-Pacific markets, offering brands and agencies an unparalleled ability to reach millions of young consumers and parents in a safe and compliant way.

The combined tech stack of SQREEM and TotallyAwesome will be accessible on a unified full-service platform, offering agencies significant cost reductions and improved operational margins. TotallyAwesome’s existing team, approximately 100 strong across key markets including Singapore, Ho Chi Minh City, Melbourne and Sydney will merge with SQREEM’s global workforce to streamline operational processes and expand market reach, enhancing efficiency and market competitiveness.

Ian Chapman-Banks, CEO of SQREEM, said, “SQREEM now offers the most comprehensive solution for advertising agencies and brands seeking to connect with youth audiences ethically and effectively. Our combination of tech and expertise will demonstrate how brands can precisely tailor their engagement with kids, teens and families while prioritising safety and trust.”

Meanwhile, Raja Kanniappan, CEO of TotallyAwesome, commented, “SQREEM’s acquisition of TotallyAwesome perfectly aligns with our strategy of curating high value audiences without cookies, drawing on our 9+ years of experience in marketing to kids, teens and families – and our more recent 18+ audience offering. With SQREEM’s cutting-edge AI technology solving the industry-wide challenge of activating against cookie-free intent-based audience segmentation, this union significantly strengthens both companies across all industry sectors.”