Asia Digest: Australia-listed Appen buys SG’s Quadrant; PEP invites bids for Intellihub

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ASX-listed data company Appen announced that it has acquired Singapore-based mobile-location data firm Quadrant, while Australia-based Pacific Equity Partners (PEP) has launched bids for Intellihub with a deadline of September 27.

Appen buys Quadrant in cash and shares

ASX-listed data company Appen has acquired the Singapore-based mobile-location data firm Quadrant.

Appen will make an upfront cash payment of $25 million and issue up to $20 million of its shares when the firm hits specific revenue milestones in 2022 and 2023.

Founded in 1996 in Australia, Appen helps technology, automotive, financial services, retail, and healthcare companies, besides governments, to build AI systems at scale by providing training data.

Quadrant, founded in 2014, provides mobile location data, POI (point of interest) data, and corresponding compliance services for businesses, organisations, and innovators to build tailored solutions.

“The acquisition of Quadrant enables Appen to increase our addressable market and expand our product and service offering to our customers to include more mobile-location and POI (point of interest) data capabilities,” said Mark Brayan, CEO of Appen.

By tapping into Appen’s user base, Quadrant can scale up their Geolancer product, which can deliver accurate, up-to-date, and manually verifiable POI data.

PEP invites bids for Intellihub

Australia-based investment firm Pacific Equity Partners (PEP) has set a deadline of September 27 to bid for Intellihub, a metering and data intelligence provider, that could fetch A$3 billion (including debt), as per The Australian.

Credit Suisse and Barrenjoey Capital are understood to be running the investor search.

Intellihub operates under long-term contracts, servicing major energy retailers and consumers across Australia and New Zealand.

PEP invested in the business in 2018 in partnership with the Swiss smart metering company Landis+Gyr. This investment was made via PEP’s Secure Assets Fund.

PEP is a leading Australasian private equity firm. In addition to successfully managing five private equity LBO funds since its inception in 1998, the firm launched the PEP Secure Assets Fund in late 2017.

SAF targets control-based investments across a range of infrastructure sectors including energy, water, transport, health, education, and communications that possess a combination of protected cashflows and unrealised growth and performance improvement potential.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.