Singapore Online, the Singapore-based online service for the online publication and podcasting industry, has entered into a strategic agreement with Singapore Media Group (SMG) and its Singapore Media Holdings subsidiary to combine the companies’ websites and the media platforms.
The transaction is expected to close in the first half of 2020, according to a statement from SMG.
The merger is expected as part of a $7.5 billion strategic partnership between SMG and Singapore Media.
SMG will continue to operate the SMG Singapore website and SMG Singapore platform.
SMC will remain the online publishing and podcast platform for Singapore.
Singapore Media will continue as SMC’s online publishing subsidiary.
In a statement, SMG CEO and founder-CEO Tony Wong said, “Singapore Online has been the fastest growing online service provider in the country for more than two years, and the combined company will continue its leadership in this space.
This combined company has a long-term vision to develop the Singlish platform to be a key player in the online media industry.”
Singapore Online and Singlish were founded in 2009, and have become one of the most popular online services for digital publications in the region.
Singlish’s mobile app, for example, has more than 2.5 million subscribers.
The combined company plans to invest more than $1 billion to build new offices in Singapore, as well as expand operations in China and South Korea, and is planning to hire up to 5,000 people.
SMGs Singapore and Singlestown Singapore will continue operating as a joint venture with SMG as a single entity.
SMCs Singapore and Singapore Online will remain part of SMC.
SMs Singlestream Singapore and SMC remain separate.
The SMs Singapore and Siam media conglomerate, which operates the SMC website and Sia and Sine publications, will remain a separate entity.
The merged company will retain its existing corporate headquarters in Singapore.
The new company will be led by SMC managing director Dr. John Chan and SMs Siam managing director Suvarnavan Kumar.
The deal is expected close to the end of 2020.
SMsg said in a statement that SMC has been committed to growing Singapore’s online media market and will continue with its commitment to support SMC and its media businesses.
SMc has a global footprint in digital publishing and has more recent experience in digital advertising and content management.
It has been expanding its operations in Southeast Asia, Asia Pacific and Europe, and will work with SMsg to develop a global strategy for digital media.
Singapore Online has more then 5 million subscribers in its Singapore-focused digital media market.
The company has also launched a new service in Thailand.
SingaporeOnline and SMsg’s website are currently listed on the New York Stock Exchange.
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