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
