Xurpas acquires Indonesian tech firm SDI

Visual from Xurpas website

Xurpas Inc, the first and only listed startup firm in the Philippines, has made its third acquisition by buying a 49 per cent stake in Indonesian IT firm PT Sembilan Digital Investama (SDI)

The Philippine-based mobile content maker informed the stock exchange that it invested $245,000 (P11 million) in the acquisition to gain access and control of SDI’s mobile content and distribution company Ninelives Interactive (Ninelives).

The transaction marks the entry of Xurpas in the Indonesian market, as it continues to execute its strategy of expanding distribution channels for its products in Southeast Asia.

Also read: PH startup Xurpas acquires second tech firm Storm Flex Sys for $4.3m

Xurpas president and CEO Nix Nolledo described Indonesia as one of the most exciting mobile markets in the world with close to 300 million subscribers.

“Just like the Philippines,
majority of users are still on pre-paid but they are rapidly moving away from fixed connections in favor of smartphones and mobile data,” Nolledo said. “The striking similarity between the Indonesian market and ours makes it an ideal location to establish another stronghold.”

Nolledo added Xurpas continues to talk to companies to hasten its strategic expansion in Asia, activate other untapped markets, and open revenue gateways.

Ninelives is barely in it’s third year in the mobile content development and distribution delivery business, the company has existing contracts with top mobile carriers in Indonesia such as Telkomsel with a 138-million subscriber base, as well as XL Axiata and Indosat, with around 63 million and 55 million subscribers, respectively.

The purchase of SDI, Ninelives, gives Xurpas access to a huge market for its games and services. SDI is the third company acquired by Xurpas since its initial public offering in December 2014.

Xurpas’ book value is P1,490.56 million or P0.87 per share based on its 2014 audited financial statement.

Xurpas did the transaction exactly one month after buying a 51 per cent controlling stake in local tech firm Storm Flex Systems Inc for P189.6 million ($4.3 million). It did its first company acquisition with Singaporean tech company Altitude Games with shares worth P33 million ($740,800) in December, less than two weeks after its P1.36 billion ($30.4 million) IPO debut.

Xurpas’ last traded price was at P10.74, up by 1.70 per cent or P0.180 to Wednesday’s P10.56.

Related stories:

PH co Xurpas acquires Altitude Games for $740k

Xurpas lowers IPO price, to raise $30.4m

Investors warm up to Xurpas, shares up 50% on opening day

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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.