SPH snaps up Shareinvestor

Singapore – Singapore Press Holdings (SPH) has completed its acquisition of financial services portal Shareinvestor.com.

SPH will provide financial services following the purchase, with synergies to be explored between other SPH assets such as The Business Times and businesstimes.com, as well through events and the Shareinvestor publications ShareInvestor Guide and INVEST magazine.

Under the deal SPH will retain the entire management and staff of Shareinvestor, which will continue to operate as an independent entity, with founder Dr Michael Leong to stay as a consultant and director and Christohper Lee continuing as CEO.

Shareinvestor.com, which was founded in 1999, has an established base of subscribers and users of its market data tools and financial applications. It assists public-listed companies and financial institutions with their corporate website designs and technology services.

“We believe there is good synergy between Shareinvestor and SPH's diverse range of businesses. This acquisition will also add online financial services to SPH's stable of new media offerings,” Alan Chan, chief executive of SPH, said.