Golden Gate Ventures’ Justin Hall has some very simple advice for Goldilocks companies – those ubiquitous startups that are usually consumer-facing, relatively niche in their product or service offerings, and are, at least initially, very local in their focus: Consolidate or die.
Having acquired a 55.3% stake in Packet One Networks (Malaysia) Sdn Bhd (P1), Telekom Malaysia Bhd (TM) – now the controlling shareholder – and its partners have announced the new P1 board members and the company’s key management line-up.
Green Packet has announced that Tan Kay Yen, aka Kay Tan, has been appointed its chief executive officer, taking over from long-time CEO and founder Puan Chan Cheong (CC Puan), who will lead Packet One Networks (Malaysia) Sdn Bhd (P1) as CEO and managing director.
Digital media company Rev Asia Bhd has acquired Malay entertainment website OhBulan!, giving it a foothold in the Malay-speaking market and a potentially lucrative segment of the Malaysian media industry.
TM said it has completed its acquisition of a majority stake in Packet One Networks (P1) after getting the necessary approvals from the relevant regulatory bodies and the shareholders of P1 parent company Green Packet.
Malaysian financial comparison startup Intelligent Money Sdn Bhd, better known as iMoney, pumped up by its US$4-million sale of a 20.1% stake to ASX-listed iSelect Ltd, is now ready to embark on its next phase of growth.
Singapore-headquartered Unified Inbox has announced the acquisition of Boston-based social networking application company SocialGrow for an undisclosed amount.
A unit of Singapore Internet venture accelerator Fatfish Internet Group Limited has acquired a stake in leading Malaysian mobile games studio AppXplore Sdn Bhd.
US-based Fragmented Industry Exchange Inc (FIE) intends to acquire a wholly-owned instant messaging (IM) software subsidiary of Singapore eDevelopment Ltd (SeD) for US$700 million in shares and bonds, SeD has announced.
Singapore eDevelopment Ltd (SeD) announced it is buying software developer HotApps International Pte Ltd, which owns applications for instant messaging (IM), social media and e-commerce platforms. It has also entered into a Memorandum of Understanding (MoU) to acquire telecom hardware and software developer CloudTel Pte Ltd.