Burda International, a unit of German media company Hubert Burda Media, has acquired LifestyleAsia.com, a luxury products news portal with operations in Hong Kong, Singapore, Thailand and Kuala Lumpur.
The transaction details remain undisclosed.
This acquisition underlines Burda’s strategy to strengthen its print and digital publishing in Asia. Together with Burda’s brands (Prestige, August Men and Pin), this strategic acquisition will form a leading digital and print luxury content platform in Southeast Asia and Hong Kong, as per a press statement.
With this, the three Swedish founders of Lifestyle Asia – Christopher Lindvall, Richard Nilsson and Sebastian Svensson – will become part of Burda Asia’s regional management team and will jointly run the digital initiatives with Melvin Ang, Managing Director, Burda Southeast Asia.
“After building the business for over a decade independently, it is now the perfect time to partner with a global media player that will help us to take the company to the next level. Together, we will further develop LifestyleAsia.com, PrestigeOnline.com and AugustMan.com in addition to launching new and exciting products,” said Nilsson, Founder and Managing Director of LifestyleAsia.com.
Founded in 2006, LifestyleAsia is an online publisher, with local websites in Hong Kong (founded in 2006), Singapore (2008), Thailand (2009) and Kuala Lumpur (2012). The site publishes authoritative, up-to-date content relating to luxury style, travel, food & wine, motoring, culture and city guides, with an emphasis on locally relevant features.
During December 2016 the magazine has served 1.5 million readers across its four markets.
Hubert Burda Media, headquartered in Munich, is an international technology and media company with over 540 brands and products. It has 175 million users and approximately 60 million paying consumers. With 10,000 employees around the world, Burda is active in 19 markets, including Germany (where it is one of the country’s largest media groups), elsewhere in Europe, the US and Asia.
In September last year, Burda invested an undisclosed amount in Priceza, a shopping search engine and price comparison platform in Southeast Asia