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