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When I was a kid, I used to play the Theme Hospital game, and nowadays I occasionally spend my time on its spiritual successor, Two Point Hospital.
In both games, players try to set up and run a hospital, splitting their attention between having enough rooms and equipment to treat the various fictional maladies that patients turn up with (my favorite is “King Complex,” in which patients think they’re Elvis Presley), managing staff happiness, and controlling the hospital’s balance sheet.
That’s what I imagine acquiring a company to be like – you come in and try to improve things while keeping an eye on the bottom line. I’m not quite sure if I’m right, but check out this amazing segue: Today’s premium article explores investment firm Towerhill’s acquisition of Vulcan Post parent firm Grvty Media.
Today we look at:
- Investment firm Towerhill’s acquisition of Grvty Media
- Indonesia getting tough with certain unregistered tech platforms
- Other newsy highlights such as Bukalapak’s encouraging financial numbers and a new digital bank that’s been cleared to operate in the Philippines
Premium summary
Feeling the Grvty of the situation
Image credit: Timmy Loen
Did my description of those hospital management games make them sound simple? Well, I forgot to mention that you also have to manage minute details like the heating and janitorial duties, lest your potential patients freeze their butts off waiting for a diagnosis as rats roam the corridors and land you a deplorable rating from the health inspector.
It’s hard being a hospital administrator. Hopefully, things are a lot more manageable at Grvty Media.
- Opening the doors: Towerhill’s acquisition comes as Grvty Media is still recovering from the aftermath of the Covid-19 pandemic. The deal will also give the media firm access to services from Kiat Lim’s portfolio companies. Lim is the son of Singapore billionaire Peter Lim and is at the helm of Towerhill.
- Growth: The acquisition will help Grvty Media double the company’s headcount to over 60 employees within the next year, including hiring several senior staff members.
- Recovery: Grvty’s media business was hit by the Covid-19 pandemic as some of its major clients like DBS lowered their marketing spend on its platform. However, the company has been experimenting with its content model over the past year to stabilize its financial health and build a sustainable business.
Read more: Exclusive: Singapore scion’s investment firm buys Vulcan Post parent
News spotlight
Indonesia wields the banhammer
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