Straits Times publisher SPH Media is to buy technology publisher Tech in Asia in a plan to strengthen its offerings including that of Business Times.
The technology news website – based in Singapore and Jakarta – reports on startups and innovation in Asia, hosting annual conferences across the region since 2012.
Wikipedia also notes that it was backed by Facebook co-founder Eduardo Saverin in 2015.
In a statement, SPH said synergies from the proposed acquisition would “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”.
During a post-merger integration process of 12-18 months, TIA and BT will operate as separate brands, it says.
“The acquisition will infuse new digital media talent and capabilities into BT, in areas of journalism, tech, business insights, product, events and marketing. Readers will also be able to benefit from a strengthened core content in business and tech.”
An SPH spokesperson said the acquisition was being funded from its existing resources, with the combination of brands expected to generate new revenue opportunities.
Editor-in-chief of SPH Media’s English/Malay/Tamil media group Wong Wei Kong said bringing together their strengths and capabilities would present “an exciting business proposition in Asia, centred on good journalism”.
Established in 1976, Business Times is Singapore’s sole financial daily, with digital and print editions. TIA was founded in 2010, and is one of the pioneers of business tech media in the region, with 90 staff based in Singapore, Indonesia and elsewhere in the Asia-Pacific.
Pictured (from left): Business Times editor Chen Huifen, Tech in Asia chief operating officer Maria Li, Wong Wei Kong, Tech in Asia chief executive Willis Wee and editor-in-chief Terence Lee (Photo SPH Media)