Techsailor was set up in 2005 by National University of Singapore alumni Rex Huang, Wayne Chia, and Leon Leong. The three met up during the NUS Overseas College initiative, a work-study program designed to foster entrepreneurship.
The team was initially located in the NUS Enterprise incubator, then moved out in 2009. It has expanded to a team of 50, and ventured out into the region.
This is the second acquisition of a Singapore internet-related company we’ve heard in two weeks. Travelmob was acquired by US vacation rental site HomeAway for an undisclosed price.
For To The New, this marks a first step in its expansion into Southeast Asia. For the next two years, To The New will be investing USD 10M into the region to grow its presence in Malaysia, Indonesia, Philippines, and China. It had earlier announced a three-year USD 13M investment into its Indian operations.
Following the acquisition, Techsailor will add digital content, media planning, buying, and analytics capabilities to its existing offerings. The entire team will remain with the company.
According to Puneet Johar, managing director of To The New, some of the markets in Southeast Asia are similar to India in terms of how young people are ahead of businesses in embracing digital media as a means of communication and commerce.