In a pivotal move aimed at fortifying its digital media presence, Singapore’s SPH Media has inked a deal to take over the regional technology media powerhouse, Tech in Asia (TIA). This development promises to notably enrich the content delivery, especially for The Business Times, as per the announcement made on Wednesday.
A Fusion of Expertise
Emphasizing the significance of this acquisition, SPH Media articulated the anticipated harmonization of capabilities. “Such a merger paves the way for The Business Times to enhance its stature as a key player in the Asia-Pacific business and tech news landscape,” SPH Media highlighted.
Also Read: The Rise of Female IITians on the Global Stage
Moreover, the integration is expected to usher in fresh digital media expertise to The Business Times, spanning various realms – from journalism and technology to business analytics, product development, event management, and marketing strategies.
Value Addition for Readers
Audiences are set to gain access to a more robust core of business and technology insights. SPH Media’s vision doesn’t stop there, as they are keen on exploring added synergistic opportunities to ensure their audience derives maximum value.
Addressing the acquisition’s fiscal dynamics, a representative of the group clarified, “While the financial intricacies remain confidential, it’s evident that the amalgamation of The Business Times and TIA is poised to unveil novel revenue streams for the collective entity.”
Integration Roadmap Unveiled
Detailing the post-acquisition plan, it’s anticipated that a comprehensive integration strategy spanning 12 to 18 months will be in place. During this transition, both TIA and The Business Times will retain their distinct brand identities.
Reinforcing Transformational Objectives
The acquisition isn’t merely a business expansion for SPH Media; it aligns seamlessly with the broader transformational initiatives of the group. The synergy between TIA’s dedication to high-grade content and The Business Times’ aspirations of regional dominance is evident, with both entities set to mutually benefit.
Mr. Wong Wei Kong, the editorial head at SPH Media, conveyed his optimism, emphasizing that the merger leverages the strengths and capabilities of both, thereby positioning them as formidable business news entities in Asia.
Tech in Asia’s Commitment Remains Steadfast
Willis Wee, the founding CEO of TIA, expressed his enthusiasm about the forthcoming chapter with SPH Media, reassuring that TIA’s foundational ethos of a startup mindset and data-centric methodology will remain intact post-acquisition.
A Brief on The Entities
The Business Times, established in 1976, stands as Singapore’s exclusive financial daily, providing insights on a gamut of topics, both regional and global. Conversely, TIA, founded in 2010, is a trailblazer in the business tech media sector in Asia-Pacific, boasting a team of 90 individuals spread across several countries.
The acquisition, currently subject to routine closing stipulations, is slated to be finalized by 2023 end, heralding a new era for business and tech journalism in the Asia-Pacific.
