TNL Mediagene, a digital media firm in Asia, has announced a business combination with Nasdaq-listed blank-cheque (special purpose acquisition) company Blue Ocean Acquisition Corp to go public.
The transaction gives TNL Mediagene a pre-money enterprise value of approximately US$275 million.
The transaction, subject to customary closing conditions, including the receipt of certain regulatory approvals, is expected to close in Q1 2024.
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The new entity will build TNL Mediagene’s presence in Japan, Taiwan and Southeast Asia. It will expand its brand portfolio of millennial- and Gen Z-targeted Chinese, Japanese and English digital products and widen the reach of its AI-driven analytics, advertising and marketing technology products.
“By becoming a public company in the US, we would like to continue to grow with the support of international investors, with the goal of becoming a media company that connects the world by providing reliable information about Asia, including Japan, to the rest of the world,” Mediagene CEO and Founder Motoko Imada said:
TNL Mediagene was formed in May 2023 by merging Taipei-based The News Lens Co. and Tokyo-based Mediagene Inc. (MG). TNL Mediagene’s businesses include:
- Original and licensed media brands in Chinese, Japanese and English across a range of subjects, including news, business, technology, science, food, sports and lifestyle.
- AI-powered advertising and marketing technology platforms.
- E-commerce and creative solutions.
TNL Mediagene claims it reaches over 50 million unique visitors and has 550 employees across Asia, with offices in Japan, Taiwan and Hong Kong.
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Founded 25 years ago, MG is a digital media company that runs original and licensed Japanese-language brands, including Business Insider Japan, Gizmodo Japan, Lifehacker Japan, Digiday Japan, Roomie and Mashing Up.
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