SESAMi, Merge

[January 31] Singapore-based and Hong Kong-based announced Wednesday they will merge to form one of the largest e-commerce service providers in Asia.

The new entity will create a company with $72 million in market capitalization and $320 million in monthly transactions, the two companies said in a statement. The combined company will be known as SESAMi Inc., the statement said.

Existing shareholder groups from the two companies will each hold 50 percent of the merged entity, the companies said, combining investors including Hong Kong’s i-Cable, Jardine Matheson, Swire Pacific, and SUNeVision, with Singapore Telecom and Overseas Union Bank. Both companies are privately held, B2B e-commerce service providers.

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