SPH Media has agreed to acquire Singapore-based technology news outlet Tech in Asia (TIA) for an undisclosed sum, as it looks to build its publication The Business Times (BT) into a regional player.

TIA is one of the pioneers of business tech media in South-east Asia, SPH said on Wednesday (Nov 1).

The digital news publication covers startup and venture capital news for a user base spanning mainly South-east Asia, India and North America. It has a regional events network and corporate customers across several markets.

The acquisition will accelerate BT’s goal of becoming a trusted source of business and tech news for investors, dealmakers, entrepreneurs and readers who have an interest in South-east Asia, said BT editor Chen Huifen.

“South-east Asia is a burgeoning region, filled with dynamic startups and digitalisation stories,” she said. “We see an opportunity to create a twinned platform of business and tech news to serve existing and new audiences seeking information about companies, trends and insights in these growth markets.”

Chen said TIA’s diversified business in South-east Asia – particularly its events arm and Indonesia presence – will strengthen BT’s offerings for its subscribers and corporate clients.

A NEWSLETTER FOR YOU

Friday, 8.30 am

Asean Business

Business insights centering on South-east Asia's fast-growing economies.

Sign Up

“And with Singapore and the region shifting towards the digital economy and digitalisation, we see tech as a long running theme in the coming years,” she said.

BT, established in 1976, is Singapore’s sole financial daily. It provides news and commentary on the public market, wealth, property, startups, lifestyle, and small and medium-sized enterprises in Singapore, South-east Asia and the rest of the world.

The publication has been building its regional presence over the past three years, with reporters in Malaysia, Indonesia, Vietnam and Thailand.

“By coming together with their strengths and capabilities, BT and TIA present an exciting business proposition in Asia, centred on good journalism,” said Wong Wei Kong, editor-in-chief of SPH’s English, Malay and Tamil Media Group.

“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.”

BT and TIA will remain separate brands in the immediate term. Both parties will associate closely with each other while exploring opportunities to grow.

TIA was founded in 2010 by Willis Wee, who serves as its CEO. It has about 90 staff based in Singapore, Indonesia and other parts of Asia.

TIA’s flagship events include the Tech in Asia Conference, which drew about 4,500 attendees in October. Last year, the company organised over 60 physical and virtual events across six markets.

“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,” said Wee.

“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,” he added.

The acquisition is subject to customary closing conditions and is expected to close by the end of 2023.