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SINGAPORE Press Holdings (SPH) on Thursday announced it is investing S$6.8 million, payable in cash, in video content marketing company Brand New Media Singapore (BNMS).
Established in Singapore in 2010, BNMS was a wholly owned subsidiary of the seller, Australia-based video content marketing firm Brand New Media.
After the acquisition, SPH subsidiary SPH Interactive will hold 34.7 per cent of the issued share capital of BNMS, with the remainder held by the seller. SPH Interactive will also have three call options to increase its stake in BNMS under certain circumstances.
BNMS counts NTUC FairPrice, Media Development Authority, Citibank and Health Promotion Board among its clients. It also has collaborations with many media and advertising agencies in Singapore and operates a network of lifestyle video channels at www.tv4me.sg.
SPH, which owns The Business Times, said in a press release that BNMS's content marketing services can be augmented through SPH's client networks, editorial capabilities, wide audience reach, and access to consumer data and insights. SPH can in turn grow in the online video space.
SPH shares last traded at S$4.05.