Philippines’ Xurpas emerges as most active tech acquirer in SE Asia

Philippine-based tech solutions company Xurpas has emerged as the most active tech acquirer in Southeast Asia according to a latest report by venture intelligence platform CB Insights.

The report was based on the region’s venture capital landscape, and the macro trends affecting it since 2012. Tech startups in the region have seen increased investor interest over the last few years, and have already raised $5 billion in total funding through July this year — an annual record propelled by select mega rounds.

Xurpas, which provides digital products and services for mobile users and became the first Philippine tech company to IPO in 2014, topped the list with six acquisitions since 2012. Of these, four are based in the Philippines.

In October 2016, it had bought Singaporean mobile ads and marketing firm Art of Click. Other notable purchases include the Philippines-based Yondu, an IT software development startup, for $19.2 million in September 2015.

Coming in second is South Korean unicorn Yello Mobile, which buys mobile startups that can then continue to exist independently. The firm has made five acquisitions in Southeast Asia — two in Indonesia, two in Thailand, and one in Singapore. Four of these companies operate in the ad, sales and marketing industries, including online marketing company Adyim.

Singapore-headquartered digital marketing firm Migme ranks third on the list with four acquisitions in the region. The Australian Securities Exchange-listed firm has bought a range of startups, including Singapore’s LoveByte app for couples and Indonesian media firm Hipwee.

Migme is followed by telecom company Telenor Group, in which the government of Norway holds a 54 per cent stake. Of the telco’s four acquisitions in Southeast Asia, two were in Malaysia, one in Vietnam, and one in Myanmar. All four of its acquisitions have been classified portals, including Myanmar’s OneKyat.

Singaporean P2P marketplace Carousell appears in fifth place with its three acquisitions in the region — Singapore-based auto classifieds marketplace Caarly and Malaysian startups Duriana, a mobile marketplace, and Watch Over Me, a personal safety app that was acqui-hired.

Carousell has so far raised $42 million in funding. It last raised $35 million in a Series B round from investors including 500 Startups, Japan’s Rakuten Ventures, and Sequoia Capital India.

Other active tech acquirers in the region cited by CB Insights include Malaysian digital media group Rev Asia, Singaporean cloud technology company Cloudaron Group, and Singapore’s Lunch Actually, which has bought three dating apps since 2012.

Singapore’s iFashion Group has also bought three startups, including Singaporean indie brand marketplace Megafash, which it acquired in February 2017.

Also Read:

Philippines: Xurpas buys Singapore-based Art of Click, Wavemaker Partners exits

Xurpas buys 51% stake in Globe Telecom’s tech solutions firm Yondu for $19.2m

S Korea’s Yello O2O lands $20.8 funding from Q Capital Partners

Migme may sell business as it looks for recapitalisation, relisting in new exchange

 

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.