SPH picks up financial portal

THE purchase of ShareInvestor.com has boosted Singapore Press Holdings’ online portfolio, the SPH-owned Business Times reported today.

The media company will pay $12m up front and a further $6m in two installments if the financial portal meets revenue objectives in 2009 and 2010.

SPH will retain all current management and staff and ShareInvestor.com will operate independently, the report said.

“The acquisition will enable SPH to provide online financial services as part of its growing portfolio of internet services, with substantial synergies to be derived with various SPH online entities, in particular The Business Times and its website,” SPH said.

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