No financial details were disclosed.
Finquest and Detecq offer similar value propositions. The former matches institutional investors, M&A advisors with mid-sized companies in Asia, while the latter differs by hyper-focussing on tech startup deals.
Both use a unique system of algorithms to curate and matchmake the best deals. Finquest currently has a database of more than 1 million users.
The acquisition of Detecq will bring its entire network of corporate investors, M&A professionals and tech companies into Finquest’s fold. This will provide clients with a wider selection of deals to pick from.
Additionally, Detecq’s founder Wong Zi En, will join the Finquest team to expand the company’s presence in Asia’s tech ecosystem.
According to a press release, tech deals in APAC hit US$51.5 billion in 2015 and that figure is expected to increase each year. The acquisition of Detecq gives Finquest the opportunity to tap into this booming sector.
“Adding Detecq’s strengths to Finquest will make it much easier for the global investment community and local tech companies in Asia to connect for investment and fundraising,” said Finquest CEO and co-founder Tanguy Lesselin, in an official press statement.
“Joining forces with Finquest makes Detecq part of a bigger team with a shared vision and commitment to efficient, effective and confidential matching of the buy and sell side. This is a win-win for both companies and our clients, and will help us strengthen our presence in the tech M&A market,” said Detecq’s founder Wong.