We’ve got news about news! Media firm Tech in Asia (TIA) is going to be acquired by SPH Media, the leading media operator in Singapore.

The move will boost the regional growth of The Business Times (BT), a publication that covers finance and business news. 

• The financial terms of the deal were not officially disclosed.
• But, a little birdie shared that the deal was around  $30M and will be paid out in cash and stock. (Thanks, Asia Tech Review.)

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✨ How we got here

TIA today is one of the go-to sites for startup and tech news on Southeast Asia, India, North America (and more!)…but it’s gone through its share of ups and downs. 

• From 2016 to 2017, they’ve had to lay off some staff writers because of financial troubles. They started offering paid subscriptions in 2018. 

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📆 More than just news

Now, TIA also hosts regional event conferences for founders and VCs. You might have seen them on your feed before!

Oh, they also write branded content, operate a pay-to-list jobs marketplace on the site, and help startups break through the industry via Studios, their advertising agency unit. 

• They announced profitability in 2019.

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✴️ About TIA

As per their website, TIA names East Ventures, Fenox Venture Capital, Hanwha, Marvelstone, Softbank, Walden International, Y Combinator, and Facebook co-founder Eduardo Saverin as some of their investors. 

• CEO Willis Wee founded the company (as Penn Olson) around a decade ago.

• They acquired tech blogs SGEntrepreneurs and Gamesaku in 2013 and joined YC Combinator’s 2015 batch. 

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🥳 What’s next?

In an article, TIA says that they will continue to run independently, and will remain “committed to delivering high-quality content and events.”

• As for BT, editor Chen Huifen said that the deal will strengthen their offerings for clients and subscribers. 

The acquisition is subject to closing conditions and is expected to close by the end of the year.