Nikkei Announces Major Share Acquisition of Investment News Portal DealStreetAsia
Mint still has minor shares while other investors decided to "exit"
Randi Eka - 29 April 2019
Nikkei Inc, also known as the owner of Financial Times (FT) portal and Nikkei Asian Review, today (4/26) announces acquisition over DealStreetAsia’s major shares. The agreement is to provide flexibility for Nikkei Group to expand network coverage related to the startup ecosystem and tech industry in Asia.
The acquisition leaves minor shares for Mint, an India-based business media as the previous investors. While the other, including SPH Ventures, North Base Media, Aplha JWC, Ozi Amanat’s K2 VC, SGAN, Vijay Shekhar Sharma, and Jim Rogers decided to exit.
DealStreetAsia is a Singapore-based media startup focused on news related to private equity and venture capital – including information of startup business and funding in Southeast Asia and India.
“I’m glad to welcome DealStreetAsia into Nikkei Group. We’re to expand network together of the rising technology landscape and startup in Asia focusing on editorial development and Nikkei Asian Review as the leading product in our global strategy,” Nikkei Inc’s President & CEO, Naotoshi Okada said.
The acquisition seems like Nikkei’s strategy to expand coverage. In March 2019, they also announced a major share acquisition over The Next Web. FT itself was an acquisition result in 2015.
“Joining Nikkei will help us accelerate mission to help PE-VC industry and dealmakers to understand the megatrend changes in this sector. As our coverage expands across Asia, we look forward for further collaboration with various publication and other Nikkei’s business groups, such as FT, Nikkei Asian Review, and ScoutAsia.” DealStreetAsia’s Founder & Editor in Chief, Joji Thomas Philip said.
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Original article is in Indonesian, translated by Kristin Siagian
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