Singapore – SPH Media has announced that it has entered into an agreement to acquire technology media company Tech in Asia (TIA). Through the proposed acquisition, TIA will strengthen the technology media offering of SPH Media, more specifically for its long-time business publication The Business Times (BT).
Moreover, the proposed acquisition will deepen the value BT brings to businesses and readers in the region, and accelerate its goal of becoming a regional player for business and tech news, and events. In the longer term, it will also support SPH Media’s broader transformation efforts.
For SPH, TIA’s commitment to high-quality content and events, is well aligned with BT’s vision of becoming the leading business title in APAC, and this acquisition will help both TIA and BT bring more value to their audiences.
Wong Wei Kong, editor-in-chief, English/Malay/Tamil Media Group at SPH Media, said, “By coming together with their strengths and capabilities, BT and TIA present an exciting business proposition in Asia, centred on good journalism. 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.”
Meanwhile, Willis Wee, CEO and founder of Tech in Asia, commented, “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. 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.”
In a public letter posted by Wee, he assured its readers that they will still retain its editorial independence following the proposed merger, adding that they will continue to build and serve the tech and startup community in Asia.