GLOBAL relocation services provider Moovaz has acquired expat publication The Finder from Singapore Press Holdings (SPH), the startup announced in a press release on Thursday.
As consideration for the sale, SPH, which publishes The Business Times, will take a stake in Moovaz. SPH will also work with the startup on its regional outreach efforts, tapping on its media platforms.
Post-acquisition, Moovaz will take over The Finder’s brand assets, including its quarterly print and digital magazines, The Finder Kids supplements, web and social media content. The publication's editor-in-chief, Sara Lyle Bow, will join Moovaz as director of The Finder and head of community.
The Finder provides expatriates with tips on activities, shopping and travel in Singapore and around the region. It has a presence in Singapore and Malaysia. Moovaz plans to work with The Finder to build an ecosystem of end-to-end logistics and lifestyle services for consumers who relocate globally and settle into local communities.
"What struck us the most about The Finder is how authentically its brand and content have resonated with this community for the past quarter of a century. We were drawn to its rich history as well as its colourful, unadulterated content," Moovaz chief executive Lee Junxian said in the press release.
Julian Tan, chief of digital business at SPH, said: "Over the years, we have built up The Finder to be the go-to publication for expatriates… We are excited that Moovaz will grow the product further, and will work with them to expand the product regionally."
Ms Bow said that she looks forward "to reaching out to an even wider audience by tapping on Moovaz's innovative digital capabilities and expansive vision".
In April, Moovaz raised US$7 million in a Series A funding round led by venture capital firm Quest Ventures, and joined by government-owned deep-tech investor SGInnovate, and Supply Chain Angels, the corporate venture arm of logistics player YCH Group.