Singapore Telecommunications Limited (SingTel) announces that it has signed an agreement to acquire 100 percent of GTW Holdings Private Limited (GTW), the owners of HungryGoWhere, Singapore’s most popular food website, for S$12 million.
Restaurant review portal, HungryGoWhere.com is the leading online food portal in Singapore, with additional presence in Hong Kong, Malaysia, Vietnam, Cambodia and Australia. Under the agreement, GTW will become a wholly-owned subsidiary of SingTel. Its operations will be merged with inSing.com – also a subsidiary of SingTel – Singapore’s leading lifestyle and local search site.
The combination of these top lifestyle sites will change the game by creating an audience of two million customers – the largest food and lifestyle audience in Singapore. By combining HungryGoWhere with inSing.com’s food channel, SingTel will be the leading digital expert on food and culinary establishments and will serve over 70 per cent of the visitors who rely on mobile and online means for food and restaurant advice.
SingTel will extend this model beyond Singapore because the food vertical is critical in Asia. In addition SingTel will add automated restaurant reservations and use the expertise to expand overseas across Asia.
“A cornerstone of SingTel’s growth strategy is to build digital solutions that help consumers in their daily lives – as they live, work and play. Possessing the local knowledge and content is critical as it allows us to compete effectively in these areas. SingTel will continue to form partnerships for important and unique content, including in retail, entertainment and other lifestyle needs,” said Allen Lew, CEO Group Digital Life, SingTel in the press release.