Asia Digest: Singapore’s NCS acquires 2359 Media; Japan’s OpenLogi raises $16.7m

Singapore-based ICT solutions company NCS has agreed to acquire 2359 Media, a digital services consultancy; while, OpenLogi raised more than 1.7 billion yen ($16.7 million) in its Series C round.

Singapore’s NCS buys 2359 Media

The Singapore ICT solutions company NCS has agreed to acquire 2359 Media, a regional digital services consultancy focused on ideating and building innovative digital products and platforms, according to a press statement.

The acquisition is meant to enhance NCS’ capabilities in agile development, design thinking, and cloud native application development, complementing its NEXT service offerings in Asia Pacific in digital, cloud, and cybersecurity.

Founded in 2009, 2359 Media specialises in leveraging cloud-based technologies to develop custom-built mobile apps, platforms, and websites. Following this acquisition, 2359 Media will become part of NCS NEXT digital arm.

However, the completion of the acquisition is subject to fulfilment of closing conditions.

“With COVID-19 driving greater demand for digital services from both our public and commercial sector clients, this acquisition signifies NCS’ commitment to assemble the right mix of capabilities and to grow a bigger community of digital specialists to make an impact in the market,” said Ng Kuo Pin, the CEO of NCS. The acquisition of 2359 Media is believed to strengthen NCS’ position to help its clients accelerate their digital transformation agendas.

NCS is a member of the Singtel Group that invests in NEXT capabilities of digital, cloud, platform. and cybersecurity services while continuously strengthening its core offerings of Business Application, Infrastructure, and Communication services.

Japan’s OpenLogi raises $16.7m Series C

The Japan-based logistics fulfilment platform OpenLogi has raised more than 1.7 billion yen ($16.7 million) of first closing for its Series C round, according to a statement. OpenLogi’s Series C round is expected to be complete by the end of 2020.

The funding round is supported by a number of investors that include Signifiant Inc., Shinsei Corporate Investment, Sumitomo Corporation, Seino Holdings, Sojitz Corporation, Chiba Dojo. Some part of this funding round is also supported by debt financing.

OpenLogi’s Series C round will be used to expand the firm’s team, mainly to strengthen its product development capabilities. The company now has more than 8,000 registered users and over 40 affiliated logistics companies nationwide.

The company has raised over 2.7 billion yen ($26.3 million) so far. It received an undisclosed amount of funding in 2019. Other investors of OpenLogi are Eight Roads Ventures and Infinity Ventures Japan.

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.