pch1985
2021-07-16
Singapore 🇸🇬
Singapore takes a lion share of Southeast Asian M&As<blockquote>新加坡在东南亚并购中占据最大份额</blockquote>
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Deals from Indonesia followed closely at 39.2%. The remaining 18.2% of deals were spread across the rest of the region.</p><p><blockquote>根据Golden Gate Ventures的一份报告，2020年东南亚42.6%的并购（M&A）交易来自新加坡。来自印度尼西亚的交易紧随其后，为39.2%。其余18.2%的交易分布在该地区的其他地区。</blockquote></p><p> “Singapore continues to record the highest number of M&A deals in the region in 2020. It remains as the hotspot for deal activity in the region, with around US$3.66b raised in fundraising by privately-held companies in 2020. A large portion of this went to Grab, which raised US$1.6b,” said Michael Lints, partner for Golden Gate Ventures, in an e-mail interview with<i>Singapore Business Review</i>.</p><p><blockquote>Golden Gate Ventures合伙人Michael Lints在接受电子邮件采访时表示：“新加坡在2020年继续创下该地区并购交易数量最多的国家。它仍然是该地区交易活动的热点，2020年私营公司筹集了约36.6亿美元的资金。其中很大一部分流向了Grab，该公司筹集了16亿美元。”<i>新加坡商业评论</i>.</blockquote></p><p> The pandemic hit activities such as M&As, exits, and global fundraising, Lints added, with Southeast Asia mirroring the global declines.</p><p><blockquote>林茨补充说，疫情打击了并购、退出和全球融资等活动，东南亚反映了全球的下滑。</blockquote></p><p> But investors were bullish for the vibrant Southeast Asian tech landscape last year. The opportunities from the dependence of Southeast Asians to mobile technology, with eight out of 10 viewing it as \"very helpful\" during the pandemic, have piqued the interest of investors amidst the pandemic.</p><p><blockquote>但投资者去年看好充满活力的东南亚科技格局。东南亚人对移动技术的依赖带来的机遇，80%的人认为它在疫情期间“非常有帮助”，激起了疫情投资者的兴趣。</blockquote></p><p> “The high proportion of M&A is attributed to a strong demand for innovation among regional tech giants, which has led to preferences in acqui-hires of existing tech companies. The global tech talent crunch has been exacerbated over the past decade, all the more so in Southeast Asia as the ecosystem now gains unprecedented momentum,” Lints said.</p><p><blockquote>“并购的高比例归因于区域科技巨头对创新的强劲需求，这导致了对现有科技公司的收购偏好。全球科技人才短缺在过去十年中加剧，尤其是在东南亚，因为生态系统现在获得了前所未有的动力，”林茨说。</blockquote></p><p> Investors gobbled up companies in the fields of adtech, e-commerce, fintech, media, and social networking, making up more than half of the M&As in the region in 2020.</p><p><blockquote>投资者吞并了广告科技、电子商务、金融科技、媒体和社交网络领域的公司，占2020年该地区并购的一半以上。</blockquote></p><p> Deals averaged at a price of US$74.7m amongst the estimated 45 mergers and acquisitions recorded in the Southeast Asian region in 2020.</p><p><blockquote>在2020年东南亚地区记录的约45起并购中，交易平均价格为7470万美元。</blockquote></p><p> Singapore-based Grab and Trax, and Indonesia’s Gojek were among the most active in the 2020 M&A scene, with their involvement in 49% of the year’s acquisitions.</p><p><blockquote>总部位于新加坡的Grab和Trax以及印度尼西亚的Gojek是2020年M&A最活跃的公司之一，参与了全年49%的收购。</blockquote></p><p> Gojek has made a total of thirteen acquisitions as of last year, including Loket, Moka, and MV Commerce, making it the top acquirer in Southeast Asia. Its merger with fellow Indonesian startup giant Tokopedia in May, forming the combined entity GoTo Group, is set to become one of the largest privately-owned tech companies in Southeast Asia.</p><p><blockquote>截至去年，Gojek共进行了13次收购，包括Loket、陆丹蓝和MV Commerce，使其成为东南亚最大的收购者。今年5月，它与印度尼西亚创业巨头Tokopedia合并，成立了合并后的实体GoTo Group，将成为东南亚最大的私营科技公司之一。</blockquote></p><p> Grab made fewer acquisitions, with a total of three from 2017 to 2020. However, it has become more active ingaining investment funding, having raised US$1.6b in 2020. This is approximately 43% of the US$3.66b raised through deal activities in Singapore.</p><p><blockquote>Grab的收购次数较少，2017年至2020年共进行了三次。然而，它在筹集投资资金方面变得更加积极，2020年筹集了16亿美元。这约占通过新加坡交易活动筹集的3.66 B美元的43%。</blockquote></p><p> As of June 2021, Grab’s attempts at going public through a merger with Altimeter Growth Corp, a US-based special-purpose acquisition company (SPAC), has been pencilled in for the fourth quarter of this year. This is a delay from the initially announced closing date of July.</p><p><blockquote>截至2021年6月，Grab试图通过与美国特殊目的收购公司（SPAC）Altimeter Growth Corp合并上市，预计将于今年第四季度进行。这比最初宣布的7月份截止日期有所推迟。</blockquote></p><p> <b>M&As to drive Southeast Asia exits over the coming years</b></p><p><blockquote><b>未来几年并购将推动东南亚退出</b></blockquote></p><p> “M&A continued to be a significant driver of Southeast Asia exits in 2020. Set against the backdrop of a promising road to recovery in 2021, M&A is showing no signs of slowing down,” said Lints.</p><p><blockquote>Lints表示：“并购仍然是2020年东南亚退出的重要驱动力。在2021年复苏之路充满希望的背景下，并购没有放缓的迹象。”</blockquote></p><p> Golden Gate Ventures estimate that there will be around 468 Southeast Asian exits between 2020 to 2022, with the majority driven by mergers and acquisitions.</p><p><blockquote>Golden Gate Ventures估计，2020年至2022年间，东南亚将有约468家企业退出，其中大多数是由并购推动的。</blockquote></p><p> For the years 2021 to 2024, Lints expects M&A activity to compose up to 80% of Southeast Asian exits, compared to 5% initial public offerings and 15% secondary sales.</p><p><blockquote>Lints预计，2021年至2024年，并购活动将占东南亚退出的80%，而首次公开募股占5%，二次销售占15%。</blockquote></p><p> “This forecast is encouraged by the entry of more late-stage private equity investors, secondary buyers, SPACs and a generally welcoming public market for technology companies,” Lints said.</p><p><blockquote>林茨表示：“更多后期私募股权投资者、二级买家、SPAC的进入以及科技公司普遍欢迎的公开市场鼓励了这一预测。”</blockquote></p><p> He estimated that around 56% of Southeast Asian executives will actively pursue M&As in the coming year, defeating the 11-year average of 44% and the highest since 2012.</p><p><blockquote>他估计，约56%的东南亚高管将在未来一年积极寻求并购，超过了44%的11年平均水平，为2012年以来的最高水平。</blockquote></p><p> As more unicorns mature, such as Grab and Gojek, the number of potential acquirers looking to invest in smaller startups through Series B and C deals also increase. This sets the stage for large fundraising activities and larger acquisitions in the region, not just from foreign companies but also from Southeast Asian firms.</p><p><blockquote>随着Grab和Gojek等更多独角兽公司的成熟，希望通过B轮和C轮交易投资小型初创公司的潜在收购者数量也在增加。这为该地区的大型融资活动和大型收购奠定了基础，不仅来自外国公司，也来自东南亚公司。</blockquote></p><p> “Additionally, the Southeast Asia startup ecosystem is also reaching a stage where some investors want to cash out— giving rise to a larger pickup of secondary markets, which have been typically low in the region. These investors won’t necessarily be pushing for the company to sell itself, but will be exploring secondary buyers who might be keen on M&As,” Lints said.</p><p><blockquote>“此外，东南亚初创企业生态系统也达到了一些投资者想要套现的阶段，这导致二级市场大幅回升，而二级市场在该地区通常较低。这些投资者不一定会推动该公司出售自己，但将寻找可能热衷于并购的二级买家，”林茨说。</blockquote></p><p></p><p> In its report, Golden Gate Ventures found that mid-stage startups used the slowdown in access to capital during the pandemic to focus on sustainable growth in 2020. Thus, cash-rich companies are well-positioned for acquisitions from 2021 onwards.</p><p><blockquote>Golden Gate Ventures在其报告中发现，中期初创公司利用疫情期间资本获取放缓的机会，专注于2020年的可持续增长。因此，从2021年起，现金充裕的公司在收购方面处于有利地位。</blockquote></p><p> Surveying 16 other venture capital firms, eight of the respondents to the Golden Gate study said acquisitions would pick up in 2021, three said that acquisitions would need another year to return to pre-COVID levels, two expected a continued drought in M&As, and three were unsure.</p><p><blockquote>金门研究调查了其他16家风险投资公司，其中8家受访者表示收购将在2021年回升，3家受访者表示收购还需要一年时间才能恢复到新冠疫情前的水平，2家预计并购将持续干旱，3家不确定。</blockquote></p><p></p>","source":"lsy1618986048053","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore takes a lion share of Southeast Asian M&As<blockquote>新加坡在东南亚并购中占据最大份额</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore takes a lion share of Southeast Asian M&As<blockquote>新加坡在东南亚并购中占据最大份额</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Singapore Business</strong><span class=\"h-time small\">2021-07-16 10:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p> <b><i>Not even the pandemic could fully defeat the investor demand for up and coming Singapore firms in the company market.</i></b> Investor appetite to acquire Singapore companies may have waned at the beginning of 2020, but it is now making a rapid recovery.</p><p><blockquote><b><i>即使是疫情也无法完全击败投资者对公司市场上新兴新加坡公司的需求。</i></b>投资者收购新加坡公司的兴趣可能在2020年初减弱，但现在正在迅速复苏。</blockquote></p><p> According to a report by Golden Gate Ventures, 42.6% of merger and acquisition (M&A) deals in Southeast Asia in 2020 were from Singapore. Deals from Indonesia followed closely at 39.2%. The remaining 18.2% of deals were spread across the rest of the region.</p><p><blockquote>根据Golden Gate Ventures的一份报告，2020年东南亚42.6%的并购（M&A）交易来自新加坡。来自印度尼西亚的交易紧随其后，为39.2%。其余18.2%的交易分布在该地区的其他地区。</blockquote></p><p> “Singapore continues to record the highest number of M&A deals in the region in 2020. It remains as the hotspot for deal activity in the region, with around US$3.66b raised in fundraising by privately-held companies in 2020. A large portion of this went to Grab, which raised US$1.6b,” said Michael Lints, partner for Golden Gate Ventures, in an e-mail interview with<i>Singapore Business Review</i>.</p><p><blockquote>Golden Gate Ventures合伙人Michael Lints在接受电子邮件采访时表示：“新加坡在2020年继续创下该地区并购交易数量最多的国家。它仍然是该地区交易活动的热点，2020年私营公司筹集了约36.6亿美元的资金。其中很大一部分流向了Grab，该公司筹集了16亿美元。”<i>新加坡商业评论</i>.</blockquote></p><p> The pandemic hit activities such as M&As, exits, and global fundraising, Lints added, with Southeast Asia mirroring the global declines.</p><p><blockquote>林茨补充说，疫情打击了并购、退出和全球融资等活动，东南亚反映了全球的下滑。</blockquote></p><p> But investors were bullish for the vibrant Southeast Asian tech landscape last year. The opportunities from the dependence of Southeast Asians to mobile technology, with eight out of 10 viewing it as \"very helpful\" during the pandemic, have piqued the interest of investors amidst the pandemic.</p><p><blockquote>但投资者去年看好充满活力的东南亚科技格局。东南亚人对移动技术的依赖带来的机遇，80%的人认为它在疫情期间“非常有帮助”，激起了疫情投资者的兴趣。</blockquote></p><p> “The high proportion of M&A is attributed to a strong demand for innovation among regional tech giants, which has led to preferences in acqui-hires of existing tech companies. The global tech talent crunch has been exacerbated over the past decade, all the more so in Southeast Asia as the ecosystem now gains unprecedented momentum,” Lints said.</p><p><blockquote>“并购的高比例归因于区域科技巨头对创新的强劲需求，这导致了对现有科技公司的收购偏好。全球科技人才短缺在过去十年中加剧，尤其是在东南亚，因为生态系统现在获得了前所未有的动力，”林茨说。</blockquote></p><p> Investors gobbled up companies in the fields of adtech, e-commerce, fintech, media, and social networking, making up more than half of the M&As in the region in 2020.</p><p><blockquote>投资者吞并了广告科技、电子商务、金融科技、媒体和社交网络领域的公司，占2020年该地区并购的一半以上。</blockquote></p><p> Deals averaged at a price of US$74.7m amongst the estimated 45 mergers and acquisitions recorded in the Southeast Asian region in 2020.</p><p><blockquote>在2020年东南亚地区记录的约45起并购中，交易平均价格为7470万美元。</blockquote></p><p> Singapore-based Grab and Trax, and Indonesia’s Gojek were among the most active in the 2020 M&A scene, with their involvement in 49% of the year’s acquisitions.</p><p><blockquote>总部位于新加坡的Grab和Trax以及印度尼西亚的Gojek是2020年M&A最活跃的公司之一，参与了全年49%的收购。</blockquote></p><p> Gojek has made a total of thirteen acquisitions as of last year, including Loket, Moka, and MV Commerce, making it the top acquirer in Southeast Asia. Its merger with fellow Indonesian startup giant Tokopedia in May, forming the combined entity GoTo Group, is set to become one of the largest privately-owned tech companies in Southeast Asia.</p><p><blockquote>截至去年，Gojek共进行了13次收购，包括Loket、陆丹蓝和MV Commerce，使其成为东南亚最大的收购者。今年5月，它与印度尼西亚创业巨头Tokopedia合并，成立了合并后的实体GoTo Group，将成为东南亚最大的私营科技公司之一。</blockquote></p><p> Grab made fewer acquisitions, with a total of three from 2017 to 2020. However, it has become more active ingaining investment funding, having raised US$1.6b in 2020. This is approximately 43% of the US$3.66b raised through deal activities in Singapore.</p><p><blockquote>Grab的收购次数较少，2017年至2020年共进行了三次。然而，它在筹集投资资金方面变得更加积极，2020年筹集了16亿美元。这约占通过新加坡交易活动筹集的3.66 B美元的43%。</blockquote></p><p> As of June 2021, Grab’s attempts at going public through a merger with Altimeter Growth Corp, a US-based special-purpose acquisition company (SPAC), has been pencilled in for the fourth quarter of this year. This is a delay from the initially announced closing date of July.</p><p><blockquote>截至2021年6月，Grab试图通过与美国特殊目的收购公司（SPAC）Altimeter Growth Corp合并上市，预计将于今年第四季度进行。这比最初宣布的7月份截止日期有所推迟。</blockquote></p><p> <b>M&As to drive Southeast Asia exits over the coming years</b></p><p><blockquote><b>未来几年并购将推动东南亚退出</b></blockquote></p><p> “M&A continued to be a significant driver of Southeast Asia exits in 2020. Set against the backdrop of a promising road to recovery in 2021, M&A is showing no signs of slowing down,” said Lints.</p><p><blockquote>Lints表示：“并购仍然是2020年东南亚退出的重要驱动力。在2021年复苏之路充满希望的背景下，并购没有放缓的迹象。”</blockquote></p><p> Golden Gate Ventures estimate that there will be around 468 Southeast Asian exits between 2020 to 2022, with the majority driven by mergers and acquisitions.</p><p><blockquote>Golden Gate Ventures估计，2020年至2022年间，东南亚将有约468家企业退出，其中大多数是由并购推动的。</blockquote></p><p> For the years 2021 to 2024, Lints expects M&A activity to compose up to 80% of Southeast Asian exits, compared to 5% initial public offerings and 15% secondary sales.</p><p><blockquote>Lints预计，2021年至2024年，并购活动将占东南亚退出的80%，而首次公开募股占5%，二次销售占15%。</blockquote></p><p> “This forecast is encouraged by the entry of more late-stage private equity investors, secondary buyers, SPACs and a generally welcoming public market for technology companies,” Lints said.</p><p><blockquote>林茨表示：“更多后期私募股权投资者、二级买家、SPAC的进入以及科技公司普遍欢迎的公开市场鼓励了这一预测。”</blockquote></p><p> He estimated that around 56% of Southeast Asian executives will actively pursue M&As in the coming year, defeating the 11-year average of 44% and the highest since 2012.</p><p><blockquote>他估计，约56%的东南亚高管将在未来一年积极寻求并购，超过了44%的11年平均水平，为2012年以来的最高水平。</blockquote></p><p> As more unicorns mature, such as Grab and Gojek, the number of potential acquirers looking to invest in smaller startups through Series B and C deals also increase. This sets the stage for large fundraising activities and larger acquisitions in the region, not just from foreign companies but also from Southeast Asian firms.</p><p><blockquote>随着Grab和Gojek等更多独角兽公司的成熟，希望通过B轮和C轮交易投资小型初创公司的潜在收购者数量也在增加。这为该地区的大型融资活动和大型收购奠定了基础，不仅来自外国公司，也来自东南亚公司。</blockquote></p><p> “Additionally, the Southeast Asia startup ecosystem is also reaching a stage where some investors want to cash out— giving rise to a larger pickup of secondary markets, which have been typically low in the region. These investors won’t necessarily be pushing for the company to sell itself, but will be exploring secondary buyers who might be keen on M&As,” Lints said.</p><p><blockquote>“此外，东南亚初创企业生态系统也达到了一些投资者想要套现的阶段，这导致二级市场大幅回升，而二级市场在该地区通常较低。这些投资者不一定会推动该公司出售自己，但将寻找可能热衷于并购的二级买家，”林茨说。</blockquote></p><p></p><p> In its report, Golden Gate Ventures found that mid-stage startups used the slowdown in access to capital during the pandemic to focus on sustainable growth in 2020. Thus, cash-rich companies are well-positioned for acquisitions from 2021 onwards.</p><p><blockquote>Golden Gate Ventures在其报告中发现，中期初创公司利用疫情期间资本获取放缓的机会，专注于2020年的可持续增长。因此，从2021年起，现金充裕的公司在收购方面处于有利地位。</blockquote></p><p> Surveying 16 other venture capital firms, eight of the respondents to the Golden Gate study said acquisitions would pick up in 2021, three said that acquisitions would need another year to return to pre-COVID levels, two expected a continued drought in M&As, and three were unsure.</p><p><blockquote>金门研究调查了其他16家风险投资公司，其中8家受访者表示收购将在2021年回升，3家受访者表示收购还需要一年时间才能恢复到新冠疫情前的水平，2家预计并购将持续干旱，3家不确定。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://sbr.com.sg/economy/exclusive-news/singapore-takes-lion-share-southeast-asian-mas\">Singapore Business</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://sbr.com.sg/economy/exclusive-news/singapore-takes-lion-share-southeast-asian-mas","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128232372","content_text":"Not even the pandemic could fully defeat the investor demand for up and coming Singapore firms in the company market.\n\nInvestor appetite to acquire Singapore companies may have waned at the beginning of 2020, but it is now making a rapid recovery.\nAccording to a report by Golden Gate Ventures, 42.6% of merger and acquisition (M&A) deals in Southeast Asia in 2020 were from Singapore. Deals from Indonesia followed closely at 39.2%. The remaining 18.2% of deals were spread across the rest of the region.\n“Singapore continues to record the highest number of M&A deals in the region in 2020. It remains as the hotspot for deal activity in the region, with around US$3.66b raised in fundraising by privately-held companies in 2020. A large portion of this went to Grab, which raised US$1.6b,” said Michael Lints, partner for Golden Gate Ventures, in an e-mail interview withSingapore Business Review.\nThe pandemic hit activities such as M&As, exits, and global fundraising, Lints added, with Southeast Asia mirroring the global declines.\nBut investors were bullish for the vibrant Southeast Asian tech landscape last year. The opportunities from the dependence of Southeast Asians to mobile technology, with eight out of 10 viewing it as \"very helpful\" during the pandemic, have piqued the interest of investors amidst the pandemic.\n“The high proportion of M&A is attributed to a strong demand for innovation among regional tech giants, which has led to preferences in acqui-hires of existing tech companies. The global tech talent crunch has been exacerbated over the past decade, all the more so in Southeast Asia as the ecosystem now gains unprecedented momentum,” Lints said.\nInvestors gobbled up companies in the fields of adtech, e-commerce, fintech, media, and social networking, making up more than half of the M&As in the region in 2020.\nDeals averaged at a price of US$74.7m amongst the estimated 45 mergers and acquisitions recorded in the Southeast Asian region in 2020.\nSingapore-based Grab and Trax, and Indonesia’s Gojek were among the most active in the 2020 M&A scene, with their involvement in 49% of the year’s acquisitions.\nGojek has made a total of thirteen acquisitions as of last year, including Loket, Moka, and MV Commerce, making it the top acquirer in Southeast Asia. Its merger with fellow Indonesian startup giant Tokopedia in May, forming the combined entity GoTo Group, is set to become one of the largest privately-owned tech companies in Southeast Asia.\nGrab made fewer acquisitions, with a total of three from 2017 to 2020. However, it has become more active ingaining investment funding, having raised US$1.6b in 2020. This is approximately 43% of the US$3.66b raised through deal activities in Singapore.\nAs of June 2021, Grab’s attempts at going public through a merger with Altimeter Growth Corp, a US-based special-purpose acquisition company (SPAC), has been pencilled in for the fourth quarter of this year. This is a delay from the initially announced closing date of July.\nM&As to drive Southeast Asia exits over the coming years\n“M&A continued to be a significant driver of Southeast Asia exits in 2020. Set against the backdrop of a promising road to recovery in 2021, M&A is showing no signs of slowing down,” said Lints.\nGolden Gate Ventures estimate that there will be around 468 Southeast Asian exits between 2020 to 2022, with the majority driven by mergers and acquisitions.\nFor the years 2021 to 2024, Lints expects M&A activity to compose up to 80% of Southeast Asian exits, compared to 5% initial public offerings and 15% secondary sales.\n“This forecast is encouraged by the entry of more late-stage private equity investors, secondary buyers, SPACs and a generally welcoming public market for technology companies,” Lints said.\nHe estimated that around 56% of Southeast Asian executives will actively pursue M&As in the coming year, defeating the 11-year average of 44% and the highest since 2012.\nAs more unicorns mature, such as Grab and Gojek, the number of potential acquirers looking to invest in smaller startups through Series B and C deals also increase. This sets the stage for large fundraising activities and larger acquisitions in the region, not just from foreign companies but also from Southeast Asian firms.\n“Additionally, the Southeast Asia startup ecosystem is also reaching a stage where some investors want to cash out— giving rise to a larger pickup of secondary markets, which have been typically low in the region. These investors won’t necessarily be pushing for the company to sell itself, but will be exploring secondary buyers who might be keen on M&As,” Lints said.\nIn its report, Golden Gate Ventures found that mid-stage startups used the slowdown in access to capital during the pandemic to focus on sustainable growth in 2020. Thus, cash-rich companies are well-positioned for acquisitions from 2021 onwards.\nSurveying 16 other venture capital firms, eight of the respondents to the Golden Gate study said acquisitions would pick up in 2021, three said that acquisitions would need another year to return to pre-COVID levels, two expected a continued drought in M&As, and three were unsure.","news_type":1,"symbols_score_info":{"STI.SI":0.9}},"isVote":1,"tweetType":1,"viewCount":550,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":13,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/170364940"}
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