ASIAN TECHNOLOGY NEWSLETTER

A Quarterly newsletter of developments in the technology sector in Asia

MARCH 2015, ISSUE 82 A Quarterly newsletter of developments in the technology sector in Asia We hope that you find the Asian Technology Newsletter informative. BDA Partners Ltd is an investment banking firm specializing in executing cross-border transactions involving Asia, including acquisitions, divestments, JVs, capital raising and restructuring. We have offices and professional staff throughout Asia, the Middle East, Europe, and the US. If you would like to learn more about how BDA is positioned to help your business grow through acquisitions, or to achieve maximum value in a divestment or fund

raising exercise, please contact us at any one of our offices.

A n dr ew H u n t l ey S en i or M a n a g in g D ir ec t or , a h u n t le y@ bda p a r tn er s . co m

CONTENTS CHINA

1

HONG KONG

3

INDIA

3

JAPAN

4

KOREA

5

MALAYSIA

5

SINGAPORE

5

TAIWAN

5

THAILAND

5

China Beijing Xiaoju Keji, a Chinese online taxi reservation system provider, has agreed to acquire Hangzhou Kuaizhi Technology, a Chinese mobile taxi booking application developer, for an undisclosed consideration. February 14, 2015

Chengdu Santai Electronics, a Chinese electronic equipment and system software developer, has agreed to acquire Yantai Weian Information Technology, a Chinese software developer, for US$121m. January 30, 2015 Ele.me, a Chinese online food ordering platform, plans to raise US$350m from Sequoia Capital, a US PE firm, CITIC Capital, the Chinese PE and VCfirm, Tencent Holdings, a Chinese investment holding company, Dianping Holdings, a Chinese consumer service rating website and trading platform and

Technology Sector Stock Indices (Quarterly period ending 24Mar15)

2 MARCH 2015, ISSUE 82

ASIAN TECHNOLOGY NEWSLETTER

acquire Hangzhou Anshe E-Commerce Company, a Chinese online fashion retailer, for US$33m. February 13, 2015 Shenzhen Infinova Technology, a Chinese electronic security products manufacturer, has agreed to acquire Sharp Wisdom Technology, a Chinese intelligent transportation and monitoring systems provider, for US$35m. February 2, 2015

Shenzhen Huapengfei Modern Logistics, a Chinese logistics services provider, has agreed to acquire Bohan Weiye Technology, a Chinese technology services provider for logistics industry, for US$227m. January 28, 2015 Source: Capital IQ, BDA

JD.com, a Chinese online shopping platform.

Information Technology, the Chinese game developer, for US$487m.

February 11, 2015

January 24, 2015

Geeya Technology, a Chinese digital TV hardware and software company, has agreed to acquire Shymoons Interactive, a Chinese mobile game developer and operator, for US$352m.

Hangzhou New Century Information Technology, a Chinese computer software, hardware and services provider, has agreed to acquire Shanghai Zhuoshu Information Technology, a Chinese mobile game company, for US$21m. March 3, 2015

February 14, 2015

Guangdong Highsun Group, a Chinese company engaged in mining and commercial property management, has agreed to acquire 51% of Guangdong Shanglian Payment Internet Technology, a Chinese e-payment solutions provider, for US$28m. February 2, 2015

Guanghe Landscape Culture Communication, a Chinese video products manufacturer, has agreed to acquire Guangzhou Chuangsi

Ourpalm, a Chinese web and mobile game developer, has agreed to acquire 30% of Shanggame Information Technology, a Chinese online game developer, Blingstorm Entertainment, a Chinese gaming application developer and 80% of Beijing Tianma Shikong Internet Technology, a Chinese mobile game developer, for US$700m. February 16, 2015

Shanghai La Chapelle Fashion, a Chinese apparel designer, has agreed to

Shenzhen Yitoa Intelligent Control, a Chinese e-commerce website and information provider for local merchants and consumers, has agreed to acquire Anjuk.com, a Chinese online real estate and mortgage information services provider, for US$267m. March 1, 2015

3

Xiamen Anne Corporation, a Chinese business information paper and office paper manufacturer, has agreed to acquire Shenzhen Weimengxiang Internet Technology, a Chinese mobile internet marketing solutions provider, for US$56m. March 6, 2015 YInfu Gold Corporation, a Hong Kongbased gold exploration and mining company, has agreed to acquire Dongguan Youdai Financial Information Service, a Chinese online platform providing various financial services, for US$600m. February 6, 2015

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ASIAN TECHNOLOGY NEWSLETTER

Hong Kong Amber Road, a US management software and solutions provider to logistics companies, has agreed to acquire ecVision, a Hong Kong-based cloudbased supply chain platform, for US$33m. March 2, 2015 App Anne, a Hong Kong-based application ranking, analytics and market intelligence solutions provider, plans to raise US$55m from Greycroft Partners, Institutional Venture Partners, Sequoia Capital, a US based PE and VCfirm and IDG Capital Partners, a Chinese PE firm. January 13, 2015 Source: Capital IQ, BDA

Digital Garage, a Japanese internet business solutions provider, has agreed to acquire 41% of eContext Asia, a Hong Kong based online payment services and e-commerce solutions provider, for US$113m. February 26, 2015 ICO Group, a Hong Kong-based IT consulting services provider for enterprises, plans to raise US$13m through public offering. March 10, 2015 Rubicon Communications, a Hong Kongbased Time Out magazine publisher, has agreed to acquire Foodwise Company, a Hong Kong based online food magazine and restaurant guide. January 9, 2015

India

ANI Technologies, plans to raise US$400m from a consortium of investors including DST Global, the Russian PE and VC firm and other private investors. March 17, 2015 Ant Financial Services Group, a Chinese online payment platform, has agreed to acquire 25% of One97 Communications, an Indian online digital goods and mobile retailer, for US$575m. February 5, 2015 Baring PE Asia, a Hong Kong based PE, has agreed to acquire 57% of CMS Info Systems, an Indian company providing cash management services, for an undisclosed consideration. March 9, 2015

ANI Technologies, an Indian operator of online cabs and car rental Olacabs, has agreed to acquire Serendipity Infolabs, the Indian taxi booking portal TaxiForSure, for US$200m. March 3, 2015

Clues Network, an Indian horizontal ecommerce website of consumer goods, plans to raise US$100m from Tiger

Global Management, a US based PE and hedge fund. January 19, 2015 Foodpanda, a German online food ordering platform, has agreed to acquire Achindra Online Marketing, the Indian food ordering portal JustEat.in, for an undisclosed consideration. February 6, 2015

Flipkart, an Indian e-commerce website, has agreed to acquire AdIquity Technology, an Indian mobile advertising platform, for an undisclosed consideration. March 7, 2015 Grofers, an Indian on-demand logistics services provider, plans to raise US$10m from Tiger Global Management and Sequoia Capital. February 27, 2015 Manthan Software Services, an Indian business intelligent and retail analytical solutions provider, plans to raise US$62m from Temasek Holdings, the Singaporean sovereign wealth fund and

4 MARCH 2015, ISSUE 82

ASIAN TECHNOLOGY NEWSLETTER Norwest Venture Partners, a US based PE firm. February 2, 2015

Meru Cabs, an Indian radio services provider, plans to raise US$50m from India Value Fund Advisors, the Indian PE and VCfirm. March 16, 2015

Moonfroglabs.com, an Indian mobile games developer, plans to acquire US$15m from Tiger Global Management and Sequoia Capital. March 12, 2015

TinyOwl Technology, an Indian mobile application for ordering food, plans to raise US$15m from a consortium of investors including Matrix Partners, Sequoia Capital and Nexus Ventures. February 27, 2015

Tripoto, an Indian online platform enabling users to source travel itineraries and share experiences, plans to raise an undisclosed amount of funds from IDG Capital, an US VC firm and Outbox Ventures, the Indian VC firm. March 19, 2015 Valiant Capital Partner, a US hedge fund, has agreed to acquire majority stake of Brainbees Solutions, an Indian online infant and baby products retailer, for US$26m. February 2, 2015 Valyoo Technologies, an Indian online fashion accessories retailer, plans to raise US$21m from TPG Capital, the US based PE firm and TR Advisors, the Hong Kong based PE firm. January 2, 2015

Japan Dream Incubator, the Japanese VC and PE firm, has agreed to acquire Mynet, a Japanese mobile game developer, for an undisclosed consideration. March 9, 2015

GREE, a Japanese social networking service provider, has agreed to acquire Sekaie, a Japanese internet media and e-commerce software developer, for US$11m. December 25, 2014 Kenkou Corporation, a Japanese online food and apparel retailer, has agreed to acquire 73.5% of Dream Vision, a Japanese online shopping website, for US$11m. February 12, 2015 Marvelous, a Japanese online games, game software and audio-video content developer, has agreed to acquire 99% of G-Mode Corporation, a Japanese mobile game developer, for US$20m.

MobileFactory, a Japanese social application and mobile content developer, plans to raise US$11m through public offering. February 20, 2015 MTI, a Japanese content developer for mobile phones, plans to raise US$32m through public offerings. March 11, 2015 Seiko Epson Corporation, a Japanese electronic devices and precision equipment manufacturer, has agreed to acquire majority stake in Avasys Corporation, the Japanese software developer, for an undisclosed consideration. March 3, 2015 Tsukuruba, a Japanese online retailer for real estate properties, plans to raise undisclosed amount of funds, from Akatsuki, a Japanese mobile and social game services provider and East Ventures, the Japanese VCfirm. February 25, 2015

March 13, 2015

Mixi, a Japanese social network services provider, has agreed to acquire Hunza a Japanese online ticket services developer, for US$96m. March 19, 2015

Mixi, has agreed to acquire 94% of MUSE & Company, a Japanese online fashion retailer for women, for US$15m. February 19, 2015

Nintendo, a Japanese videogames developer and game systems producers, has agreed to acquire 10% of DeNA, a Japanese company managing e-commerce and social media businesses, for US$183m. March 17, 2015

Korea Channel Breeze, a Korean apartment hunting application developer, plans raise to US$18m from Company K Partners, a Korean investment company and Stonebridge Capital, the Korean VC firm and PE. February 10, 2015 Edition, a Korean mobile telecommunication company providing software solutions and content related services, plans to raise US$13m through public offering. March 12, 2015 Etron, the Korean application software developer, plans to raise US$12m through public offering. March 6, 2015

5 MARCH 2015, ISSUE 82

ASIAN TECHNOLOGY NEWSLETTER KB No.4, the Korean special purpose acquisition company managed by KB Investments & Securities, has agreed to acquire Action Square, the Korean mobile game developer, for US$279m.

company, has agreed to acquire Infocomm Asia Holdings, a Singaporea online games developer, for US$14m. February 16, 2015

March 17, 2015

NCSoft Corporation, a Korean online games publisher, has agreed to acquire KGinicis, a Korean online electronic payment gateway solution provider, for US$41m. February 4, 2015 Media Will, a Korean media company publishing advertising papers, has agreed to acquire 70% of Station3, the Korean mobile application developer, for US$21m. February 5, 2015

Malaysia

Taiwan Accord Perfect Investment Corporation, the Singapore based investment company, has agreed to acquire Softstar Entertainment, the Taiwanese online game developer, for an undisclosed consideration. March 19, 2015

Gamania Digital Entertainment, the Taiwanese online games publisher and developer, plans to raise US$22m from private investors. March 12, 2015

March 10, 2015

KalaVision, a Taiwanese home surveillance mobile application developer and cloud service provider, plans to raise an undisclosed amount of funds from 300 Startups, the US based VCfirm and incubator. January 27, 2015

Singapore

Thailand

Eduspec Holdings, a Malaysian IT learning programs developer and educational service provider, plans to raise US$13m through public offering.

Acclivis Technologies and Solutions, a Singaporean enterprise cloud provider and integrator, has agreed to acquire OSINet Communications, the Singaporean internet broadband and data centre services provider, for US$11m. January 12, 2015 Job Forward, a Singaporean online recruiting platform, plans to raise an undisclosed amount of funds from Coent Venture Partners, a Singaporean based VC firm. February 3, 2015 Yuuzoo Corporation, the Singapore based mobile and online media

SamSquared Technologies, a Thailand based mobile application software solutions provider, plans to raise undisclosed amount of funds from CyberAgent Ventures, aJapanese VC firm. January 22, 2015

ASIAN TECHNOLOGY NEWSLETTER

MARCH 2015, ISSUE 82

Asian Technology Transactions with Multiples (12 months ending 20Mar15) Asian Technology Transactions with Multiples (15 months ending 16Dec14)

Source: Capital IQ

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ASIAN TECHNOLOGY NEWSLETTER

BDA Partners Ltd is an investment banking firm that advises on crossborder mergers and acquisitions, distressed situations, capital raisings and restructurings. Our focus is on transactions with an Asian angle or story, including the Middle East, with enterprise values of up to US$1bn. BDA has ten offices and over 85 professional staff throughout Asia, the U.S. and Europe. For further any of the articles in this newsletter, please contact the offices listed.

Andrew Huntley Senior Managing Director [email protected]

www.bdapartners.com [email protected]

All information is accuarte based on the information found at CapitalIQ, Mergermarket and VCCircle. Further detail regarding the source of information used is available upon request.

NEW YORK Euan Rellie, [email protected] BDA Partners Ltd 1270 Avenue of the Americas, Suite 2310 New York, NY 10020, USA T (1) 212-265-5300 F (1) 212-265-4300 SHANGHAI Jeffrey Wang, [email protected] Business Development Asia Co Ltd The Center, #1602, 989 Changle Road Shanghai, 200031, China T (86) 21-5407-5580 F (86) 21-5407-5680 BEIJING Charles Maynard, [email protected] Business Development Asia (HK) Ltd Beijing Branch Office Unit 1108, Level 11, China World Office 1 1 Jianguomenwai Avenue Chaoyang District Beijing, 100020, China T (86) 10-5737-9029 SEOUL Se-Ho Chang, [email protected] Business Development Asia 21 Floor, S-Tower 116 Sinmunno 1-Ga, Jongno-Gu Seoul, 110-061, Korea T (82) 2767-2730 F (82) 2757-2702 MUMBAI Sumit Ganguly, [email protected] Business Development Asia (HK) Ltd India Branch Office 302 Vibgyor Towers, C-62, G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051, India Tel (91) 22-6140-3800 Fax (91) 22-6140-3820

LONDON Andrew Huntley, [email protected] Business Development Asia Ltd 33 Cavendish Square London W1G 0PW, United Kingdom T (44) 20-7182-4518 F (44) 20-7182-4100 HONG KONG Paul DiGiacomo, [email protected] Business Development Asia (HK) Ltd Suite 905, ICBC Tower 3 Garden Road, Hong Kong T (852) 2537-9565 F (852) 2537-4406 TOKYO Jeff Acton, [email protected] Business Development Asia K.K. 17F Atago Green Hills Mori Tower 2-5-1 Atago, Minato-ku Tokyo, 105-6021, Japan T (81) 3-3433-5800 F (81) 5404-8181

BAHRAIN Ahmed Al Balooshi, [email protected] Business Development Asia Meral Building #2572, Road #2833 4th Floor, Office #42, Block #428 PO Box 30295, Seef District Kingdom of Bahrain T (973) 1758-1336 HO CHI MINH CITY Business Development Asia (HK) Ltd HCMC Rep Office #1330 Kumho Plaza District 1, Ho Chi Minh City Vietnam Tel (84) 8-62-888-755