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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

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.

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