The Digital Source For China's Tech Innovation Since 2000

Search
Close

Australian Data Firm Exits China, Sells Business To Wisers

June 30, 2020
Internet | Software

Sydney-based media monitoring firm Isentia has decided to leave the North Asia market by selling its assets, operations, and clients in mainland China, Hong Kong, Taiwan, and South Korea.

From a financial perspective, Isentia's North Asia departure is expected to result in one-off net cash closure costs of AU$3m to AU$4m which will be incurred over the next 12 months, primarily in H1 FY2021. In addition, there may be a non-cash impairment against the carrying value of the North Asian assets which is currently being determined but will not impact existing banking covenants. In FY2020, North Asia is expected to contribute AU$8.7m in revenue and an EBITDA loss of AU$1.3m.

The ASX-listed company says it inked a strategic alliance with Wisers Information Limited, a leading provider of big data smart business intelligence solutions based in Hong Kong. Isentia will work with Wisers to transition clients in Beijing, Shanghai, Hong Kong and Taiwan to ensure that they continue to have access to media intelligence and insights. The alliance allows both parties to explore further opportunities to collaborate across other markets.

Isentia's assets in mainland China date back more than thirty years, as it acquired companies like SinoFile, China Clipping, and China Newswire over the years. And in Hong Kong and Taiwan it acquired a total of three firms in the past decade to boost its operations.

Isentia has also reached agreement to sell its stake in its Korean business to its local partner and will exit this market. Isentia acquired two media monitoring firms in Seoul over the past four years.

Tags: Beijing | data monitoring | Hong Kong | Isentia | media monitoring | Shanghai | Taipei | Wisers

Other Related News:

Chinese mobile phone maker Xiaomi evaded Rs 653 crore in customs duty: DRI Business Standard News

January 6, 2022

Chinese officials won't fix security flaws in Olympic app

January 21, 2022

China Southern Broke CNY5 Billion Internet Sales Last Year

January 26, 2007

Court In China Says Trading In Cryptocurrency ‘not Protected By Law’

August 25, 2021

Experience Oktoberfest at Hotel Kunlun

September 29, 2010

Shanghai lockdown: How Covid tests China's 'Great Firewall' News

April 15, 2022

Asia Cup 2022: Virat Kohli bows down to Suryakumar Yadav after his breathtaking knock against Hong Kong Digital Profit Area

September 1, 2022

Broadcom Appoints New Greater China President

July 16, 2013

Apple Car battery talks have reportedly stalled in China

October 23, 2021
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
  • Contact Us
  • About Us
  • Corrections and Disclosure
  • Privacy Policy
  • Terms & Conditions
© 2023 ChinaTechNews.com. A Service of Asia Media Network.
Twitter