Symphony International Holdings Ltd Investment in Smarten Spaces Pte. Ltd (9998S)
12 Novembre 2019 - 8:00AM
UK Regulatory
TIDMSIHL
RNS Number : 9998S
Symphony International Holdings Ltd
12 November 2019
Not for distribution, directly or indirectly, in or into the
United States or any jurisdiction in which such distribution would
be unlawful.
12 November 2019
Symphony International Holdings Limited ("Symphony")
Investment in Smarten Spaces Pte. Ltd.
Symphony International Holdings Limited (LSE: SIHL) is pleased
to announce that it has, through a wholly-owned subsidiary, entered
into a transaction for an investment in Smarten Spaces Pte. Ltd.
("SSPL"). SSPL is a Singapore based SaaS (Software-as-a-Service)
company that provides software solutions for space management in
commercial and industrial properties.
SSPL has developed a platform with over thirty microservices
that clients select from, to manage a variety of functions that
include building access control, reservation of conference rooms
and individual workstations, room temperature and lighting,
co-working and co-living spaces, F&B services, and community
bulletin boards. Clients are typically large corporate employers
interested in increasing space utilization in the commercial
properties they occupy, owners of commercial properties interested
in offering value added services to their tenants, operators of
co-working and co-living businesses, and industrial property owners
looking to improve security and throughput of logistics
operations.
SSPL was founded in 2017 by Dinesh Malkani and co-founders
Anushka Verghese and Prithvi Shergill and has since rapidly
acquired customers in Singapore and India. Through R&D work at
its technology centre in Bengaluru, India, SSPL continuously
upgrades its space management solutions by leveraging new
developments in IoT devices and cloud computing services.
Symphony has entered into agreements that will provide a
minority position in SSPL, which will represent less than 5% of
Symphony's NAV.
Anil Thadani, Chairman of Symphony Asia Holdings Pte. Ltd. and a
Director of Symphony, said: "This is our first investment in a SaaS
company and we are looking forward to working with Dinesh and his
team to grow the business, especially in the Real Estate and
Hospitality industries where we have deep connections and
significant investment experience."
Dinesh Malkani, CEO of Smarten Spaces Pte. Ltd. said: "The
industry of spaces is growing and transforming exponentially. Our
customers include leading Fortune 100 and real estate companies
that are seeing tremendous benefits in the area of employee and
tenant experience, productivity and cost. We are very excited about
our partnership with, and investment from, Symphony which will help
us provide more innovations to our customers and scale
globally."
For further information:
Symphony Asia Holdings Pte. Ltd. +65 6536 6177
Anil Thadani
Rajgopal Rajkumar
Dealing codes
The ISIN number of the Ordinary Shares is VGG548121059, the
SEDOL code is B231M63 and the TIDM is SIHL.
The LEI number of the Company is 254900MQE84GV5DS6F03.
About Symphony
Symphony International Holdings Limited (LSE:SIHL) is a London
listed strategic investment company that invests in consumer
related businesses, primarily in the healthcare, hospitality,
lifestyle (including branded real estate developments), logistics
and education sectors predominantly in Asia. It offers a way for
investors to gain exposure to rising disposable incomes and wealth
in fast growing economies. Symphony's objective is to provide
superior capital growth by investing in high quality companies and
form long-term business partnerships with talented entrepreneurs
and management teams. Symphony's investment team has a broad range
of expertise - many of its professionals have been working in Asia
for more than 30 years. For more information please visit our
website at www.symphonyasia.com.
No representation or warranty is made by the Company as to the
accuracy or completeness of the information contained in this
announcement and no liability will be accepted for any loss arising
from its use.
This announcement is for information purposes only and does not
constitute an invitation or offer to underwrite, subscribe for or
otherwise acquire or dispose of any securities of the Company in
any jurisdiction. All investments are subject to risk. Past
performance is no guarantee of future returns. Prospective
investors are advised to seek expert legal, financial, tax and
other professional advice before making any investment
decisions.
This announcement is not an offer of securities for sale into
the United States. The Company's securities have not been, and will
not be, registered under the United States Securities Act of 1933
and may not be offered or sold in the United States absent
registration or an exemption from registration. There will be no
public offer of securities in the United States.
The Company and the Investment Manager are not associated or
affiliated with any other fund managers whose names include
"Symphony", including, without limitation, Symphony Financial
Partners Co., Ltd.
End of Announcement
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END
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