Australia-based group buying technology company Dealised acquired Hong Kong-based Lokaly Network, the owner of group buying platform Lokaly and group buying website ValuUp, on Thursday for an undisclosed amount.
Dealised previously closed a $5m series A financing round backed by investors including SingTel Innov8, the corporate venturing unit belonging to telecommunications corporation Singtel.
Jonathan Marchbank, chief executive officer of Dealised, said: "With this deal, Dealised now has a strong position in a fast growing, sophisticated Asian market, a solid customer base and a strong team. The Hong Kong deals market is worth more than US$60m and is growing. Our Hong Kong team will help us grow right across Asia."
The acquisition came as Dealised appointed Jason Keiles as senior vice president of global business development. Keiles, who will be based in the UK, joins from Getty Images where he was vice president of business development and will be responsible for targeting corporate partners who will make use of Dealised’s technology platform.