Alibaba acquires Southeast Asian e-commerce agency operating company Synagistics
Alibaba acquired Synagistics, a Southeast Asian e-commerce agency operation company, through SPAC and listed it on the Hong Kong Stock Exchange, becoming the first M&A transaction case since Hong Kong established the SPAC listing mechanism in 2022. Synagistics is a business Alibaba Singapore is betting on, and its stake was as high as 47.22% at one point. Alibaba's overseas expansion strategy is clear. By investing in well-known local e-commerce platforms, it can quickly realize localization and effectively deal with the problem of lack of local retail and logistics experience.