Philip­pines’ Xur­pas most ac­tive tech ac­quirer in S-E Asia: re­port

IN­VESTOR IN­TER­EST

Mint Asia ST - - Inside - BTY OMAS SN. ODA III

Philip­pines-based tech so­lu­tions com­pany Xur­pas has emerged as the most ac­tive tech ac­quirer in South-east Asia, ac­cord­ing to a 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 start-ups in the re­gion have seen in­creased in­vestor in­ter­est over the last few years, and had al­ready raised $5 bil­lion in to­tal fund­ing through July—an an­nual record pro­pelled by se­lect mega rounds.

Xur­pas, which pro­vides dig­i­tal prod­ucts and ser­vices for mo­bile users and be­came the first Philip­pines tech com­pany to launch an ini­tial pub­lic of­fer­ing (IPO) in 2014, topped the list with six ac­qui­si­tions since 2012. Of these, four were in the Philip­pines.

In Oc­to­ber 2016, it bought Sin­ga­porean mo­bile ads and mar­ket­ing firm Art of Click. The com­pany’s other no­table pur­chases in­cluded the Philip­pines-based Yondu, an IT soft­ware de­vel­op­ment start-up, for $19.2 mil­lion in Septem­ber 2015.

Oc­cu­py­ing the sec­ond slot was the South Korean uni­corn Yello Mo­bile, which buys mo­bile start-ups that can then con­tinue to ex­ist in­de­pen­dently. The firm has made five ac­qui­si­tions in South-east Asia—two in In­done­sia, two in Thai­land, and one in Sin­ga­pore. Four of these com­pa­nies op­er­ated in the ad, sales and mar­ket­ing in­dus­tries, in­clud­ing on­line mar­ket­ing com­pany Adyim.

Sin­ga­pore-based dig­i­tal mar­ket­ing firm Tech start-ups in South-east Asia have seen in­creased in­vestor in­ter­est over the past few years, and have al­ready raised $5 bil­lion in to­tal fund­ing through July this year—an an­nual record pro­pelled by se­lect mega rounds.

Most ac­tive tech ac­quir­ers in South-east Asia

Migme ranked third on the list with four ac­qui­si­tions in the re­gion. The Aus­tralian Se­cu­ri­ties Ex­change-listed firm bought a range of start-ups, in­clud­ing Sin­ga­pore’s Love­byte app for couples and In­done­sian me­dia firm Hip­wee.

Migme was fol­lowed by tele­com com­pany Te­lenor Group, in which the gov­ern­ment of Nor­way holds a 54%. Of the telco’s four ac­qui­si­tions in South-east Asia, two were in Malaysia, one in Viet­nam, and one in Myan­mar. All the four ac­qui­si­tions were clas­si­fied por­tals, in­clud­ing Myan­mar’s Onekyat.

Sin­ga­porean P2P mar­ket­place Carousell stood fifth with three ac­qui­si­tions in the re­gion—sin­ga­pore-based auto clas­si­fieds mar­ket­place Caarly and Malaysian start-ups Duri­ana, a mo­bile mar­ket­place, and Watch Over Me, a per­sonal safety app.

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 in­cluded Malaysian dig­i­tal me­dia group Rev Asia, Sin­ga­pore’s cloud tech­nol­ogy com­pany Cloudaron Group, and Sin­ga­pore’s Lunch Ac­tu­ally, which has bought three dat­ing apps since 2012.

Sin­ga­pore’s ifash­ion Group also bought three start-ups, in­clud­ing Sin­ga­porean in­die brand mar­ket­place Me­gafash in Fe­bru­ary 2017.

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