Govt muscles in on the Internet
DPA
1 Oct 06
Singapore Press Holdings (SPH) is buying all the magazine and
online titles of Hardware Zone, which operates a website featuring
new electronic products and reviews, SPH said in a published
statement Saturday.
The website, which started in 1999 as a hobby for the co-founders,
currently has operations in Thailand, Singapore, Malaysia, the
Philippines, Indonesia, China and Australia.
Co-founders Eugene Low and Jackie Lee were 22-year-old
undergraduates at the National University of Singapore when they
started Hardware Zone.
The purchase price is 7.1 million Singapore dollars (4.5 million US
dollars).
"Hardware Zone's online magazine business strategy will complement
SPH Magazines' strong print magazine business," said the statement
in The Straits Times.
The acquisition is scheduled to be completed around November
1.