Deliver.sg, a Singaporean long-distance delivery platform under Maxima Logistics Pte Ltd, has completed the acquisition of BusyBee, an Indian Mobility Lifestyle Platform. The deal, valued at SGD 500,000, is part of Deliver.sg’s strategy to strengthen its presence in Asian and Middle Eastern markets. BusyBee, founded by Arun Kumar in 2017, started as an on-demand courier […]

Singapore-based investment firm Foresight Ventures has successfully acquired an 80% majority stake in crypto media company The Block for $60 million. The acquisition by Foresight Ventures comes nearly a year after FTX and Alameda Research faced a downturn.  The Block’s former CEO, Mike McCaffrey, previously borrowed several million dollars from Alameda Research, adding to the […]

Singapore’s largest news publisher, SPH Media, announced its acquisition of homegrown startup and tech news outlet Tech in Asia (TIA) on November 1. With this, the company aims to boost SPH Media’s news offerings, particularly enhancing The Business Times (BT), a financial news publication.  SPH Media is on a path to broaden its readership base […]

Singapore-listed Vertex Technology Acquisition Corp., a special purpose acquisition company, is set to become the city-state’s first blank-check firm to acquire a target, with a proposed merger with Taiwanese live streaming platform 17Live Inc. The deal, valued at S$925.1 million ($676 million), was announced by Vertex in a statement on Monday.  The move is the […]

Ampverse, a prominent gaming community and intellectual property ecosystem, has acquired Singapore-based gaming startup Championify. The acquisition will see Championify’s assets being integrated into Ampverse Labs, pushing the development of in-house products and services. Championify brings valuable technology and intellectual property assets, including its proprietary gamification platform, a reward system, and a gaming product marketplace. […]

The tally of recognized startups and acquisitions, burgeoning to 84,012 in 2022 from a mere 452 in 2016, is a testament to the positive impact of investment incentives and simplified business regulations, as highlighted by the Economic Survey 2022-23. As we embrace 2023, the Southeast Asian startup landscape is abuzz with anticipation surrounding cross-border acquisitions […]

Indonesian coal mining firm TBS Energi Utama Tbk (TOBA), has successfully acquired Asia Medical Enviro Services, a leading medical waste treatment startup based in Singapore. The transaction was carried out through one of TOBA’s subsidiaries. With this move, TBS Energi Utama plans to diversify its business portfolio beyond coal mining. Asia Medical Enviro Services, Singapore’s […]

Ares Management Corporation (NYSE: ARES), a U.S.-based alternative investment group, has reached an agreement to acquire Crescent Point Capital (CPC), a prominent private equity firm headquartered in Singapore. The acquisition deal encompasses the full ownership of CPC, a leading Asia-focused private equity entity managing approximately $3.8 billion in assets as of March 31, 2023. While […]

Bain & Company, a prominent global management consulting firm, has revealed its plans to acquire the Asia-Pacific division of Rainmaking, a renowned venture-building and startup development studio. The acquisition will support businesses throughout the region in enhancing their innovation capabilities and successfully launching and expanding new ventures. The specific terms and details of the deal […]

Utu, a Singapore-based travel tech company, has successfully raised $33 million in a Series B funding round, led by SC Ventures. The funding will support Utu’s growth and expansion plans, which include the recent acquisition of CardsPal, a Singapore-based fintech firm specializing in localized deals and promotions. Despite the travel slowdown caused by the pandemic, […]