<article><a class="knx-trackable">Singapore Press Holdings</a> has announced that its wholly-owned subsidiary SPH Interactive has acquired a 20 per cent stake in DC Frontiers for S$2 million ($1.44 million).</article>

<a class="knx-trackable">Singapore Press Holdings</a> has announced that its wholly-owned subsidiary SPH Interactive has acquired a 20 per cent stake in DC Frontiers for S$2 million ($1.44 million).
The principal activity of DC Frontiers is operating <a style="color: #000080;" href="http://www.handshakes.com.sg" target="_blank">Handshakes</a>, an analytics platform for relational information about companies and the personnel involved in their ownership, governance and management. SPH states that the consideration for the purchase was arrived at on a willing-buyer, willing-seller basis, accounting for factors such as the intellectual property rights, goodwill and business prospects.
The consideration was satisfied wholly in cash, with the acquisition not expected to impact the net tangible assets or earnings of SPH for the financial year ending in August 2015. To date, no directors of SPH have any declared interest, direct or indirect, in the acquisition, despite the extensive links of the SPH media conglomerate with the government.
SPH is regulated by the <a class="new" style="color: #000080;" title="Newspaper and Printing Presses Act of 1974 (page does not exist)" href="http://en.wikipedia.org/w/index.php?title=Newspaper_and_Printing_Presses_Act_of_1974&amp;action=edit&amp;redlink=1" target="_blank">Newspaper and Printing Presses Act of 1974</a>, governing the issuance of both management and ordinary shares. All issues and transfers of management shares require approval from the <a style="color: #000080;" href="http://www.mci.gov.sg/web" target="_blank">Ministry of Communication &amp; Information</a>. Notably, in matters relating to the appointment or dismissal of a director or staff member, the vote of one management share is equivalent to 200 ordinary shares.
Whether this will impact the management of DC Frontiers in the long run is yet to be determined, given the historically close ties between SPH directors and the Singapore Government. <a style="color: #000080;" href="http://en.wikipedia.org/wiki/Lee_Boon_Yang" target="_blank">Dr Lee Boon Yang</a>, a current member of the Singapore parliament and member of the ruling People&#8217;s Action Party, is the current chairman, as well as non-executive and independent director of <a style="color: #000080;" href="http://www.sph.com.sg/home/" target="_blank">Singapore Press Holdings</a>.
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SPH Interactive acquires 20% of DC Frontiers, operator of the Handshakes analytics platform, for US$1.44 million

SPH Interactive acquires 20% of DC Frontiers for $1.44m

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SPH Interactive acquires 20% of DC Frontiers for $1.44m

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