Space Asia Media has been bought by US-based Engage, a
results-oriented online marketing company that is listed on the
Nasdaq.
The 100 per cent acquisition, which creates the world's largest online
advertising network, comes almost three years after Space was first
established.
Engage is described as the largest online advertising network.
Representing more than 4,500 sites in North and South America, Europe,
Japan and Australia, it is said to have access to 60 per cent of the
global online population.
However, it lacks a presence in Asia; hence the purchase of Space.
Space represents 270 sites - including Singapore Press Holdings,
Channelnewsasia and Buzzcity - and the two together would probably have
access to at least 65 per cent of Internet users worldwide, according to
Space co-founder and CEO Colin McIntosh.
He also told MEDIA that the basic idea of the acquisition was that "we,
and therefore Asian advertisers, get access to a global network, and
they get Asia - the last continent in which they don't have a
significant presence.
It's a global fit".
Added Engage president and CEO Paul Schaut: "We have been looking at
opportunities in Asia for some time and feel that the acquisition of
Space is the most effective way to help us leverage our expertise,
technologies and data throughout this market.
"It also gives us the ability to hit the ground running with a local
team that has specific experience in Asian media programmes to bring the
entire Engage model to the region relatively quickly."
Mr McIntosh said Engage's proprietary technologies, which would soon be
rolled out in Asia-Pacific, included marketing measurement and other
analytical tools that could measure much more efficiently return on
investment in real time.
In addition, there are systems that enable advertisers to understand
online advertising and make it more effective.
"There is not enough experience of advertising online in Asia, so
advertisers don't know what is the best way forward. But with
technologies like Engage Enabling Technologies, AdKnowledge and I/Pro,
advertisers can make their advertising more effective because they can
monitor their ads on a real time basis and make changes to improve the
effectiveness of the advertising," said Mr McIntosh.
Space has operations in Hong Kong, Singapore, Kuala Lumpur, Bangkok,
Seoul, Sydney and Melbourne and is planning to launch in China
shortly.
Because of the acquisition, the company will change its name to Engage
Asia; however, no personnel changes are likely.
Mr McIntosh will become president of the new entity and will report to
Mr Schaut in the US.
