Singapore based digital media company, Migme has agreed to buy the assets of Shopdeca in a stock and cash deal. Shopdeca is an Indonesia based eCommerce store that offers curated lifestyle products. The business of Shopdeca compromises of two retail sites and the websites are “Shopdeca.com” and “sportdeca.com”.
The acquisition deal will allows migme to launch its eCommerce service in Indonesia. The integration is expected to be complete in first half of next year. With the deal, the founder of Shopdeca Andreas Thamrin is going to join migme as the global Head of E-commerce. He will lead the operation in the region.
The CEO of migme Steven Goh said about the development, “We are excited to expand our e-commerce business into Indonesia. We’re gaining valuable local market expertise and we look forward to the acquisition being a positive contributor to group results in 2016,”
This is the second eCommerce acquisition of the company, as it had bought Sold.sg in January this year. The company was listed on the ASX in 2014 and since then it has gone on the acquisitions spree. The company had also bought chat app for couple, LoveByte and had also invested in games developer MatchMe.
Migme has also said that it is going to raise $3.5 Million, which will be led by Lucerne Investment Partners. The company will use the fund for more acquisition and expanding its market in the key parts of Asia.