#Asia migme to buy assets of Indonesian e-commerce firm Shopdeca

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ASX-listed digital media company migme is also raising US$3.5 million in Convertible Notes, led by Lucerne Investment Partners

migme

Singapore-based ASX-listed digital media company migme has agreed to acquire the assets of Shopdeca, a curated lifestyle e-commerce store based in Indonesia, in a stock-and-cash deal.

Shopdeca’s business comprises two retail sites (Shopdeca.com and Shopdeca.com) and B2B sales that provide curated lifestyle products for Indonesian consumers.

The acquisition will enable migme to launch its e-commerce operations in Indonesia.

The integration will be completed in the first half of 2016.

Also Read: Why Indonesia’s e-commerce market isn’t perplexing

As per the agreement, Shopdeca Founder Andreas Thamrin will join migme as global Head of E-commerce and will lead operations in the region.

“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,” migme CEO Steven Goh said.

Also Read: Shopdeca gets funding from Polaris Digimedia; opens store in SG

It is migme’s second e-commerce acquisition, following the purchase of Sold.sg in January 2015.

In a separate statement, migme said it raising US$3.5 million in Convertible Notes, led by Lucerne Investment Partners. The proceeds will be used to fund acquisitions and accelerate market penetration in key geographies across Asia.

The post migme to buy assets of Indonesian e-commerce firm Shopdeca appeared first on e27.

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