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Ringier`s Marry Network in Myanmar has been taken over by local Myanmar ComBiz Group (MCBG)
After two years of running the Marry Network business in Myanmar, both partners - Information Matrix and swiss-based Ringier AG - decided to sell the Marry Network to the Yangon-based Myanmar ComBiz Holdings Limited (MCBH).
With the purchase of the Marry Network, MCBH further expands the digital media at Myanmar ComBiz Group (MCBG) portfolio within the area of online directories, which fits perfectly to their existing business division Tourism & Events.
For Ringier, MCBG provides an ideal buyer with a strong local connection and experience in the successful management of very different lines of business. MCBG is technology-wise well positioned to take the Marry Network to the next level, while Ringier continues to focus on its other core businesses in Myanmar: Duwun.com.mm and MyJobs.com.mm.
MCBG was established in 2005 in Yangon. Within a short period of time, the group expanded their business and are today major players in diverse industries such as investment, trading and production of agriculture and dairy products, trading and distribution of electronic, energy, oil and gas, power, IT and telecom products, business management and project management, real estate and industrial development as well infrastructure development. MCBG employees currently have a workforce of over 1’000 people.
Benjamin Gajkowski, Head of Ringier Asia: “With the Myanmar ComBiz Group we found an ideal successor that will retain a strong interest in the success of the Marry Network. ComBiz has a great track record in various sectors that it enters into, including but not limited to investment, production and manufacturing of agriculture, dairy and CAN, trading and distribution of FMCG, IT, telecommunications, Development of real estate, construction, and services. We are very pleased about the fact that MCBG’s management is committed to keep up the work seamlessly with the existing Marry Network team and long-term partners.”
Aung So Tha, who chairs Yangon-based diversified business Myanmar ComBiz Group, says: “We feel that the acquisition of the Marry Network can bring huge value to our existing line of business in future growth and technology with online. Directory platforms are establishing a strong presence in the regional digital landscape. The Marry Network covers new potential customers for our other fields of activities. Parents, expecting and current, are increasingly turning to digital sources to supplement their information e.g. on food, events, traveling but also on properties that are adapted to the new living conditions. And the growing importance is not only obvious to users, but business partners and investors are also paying careful attention. We are happy to include the Marry Network into our Group portfolio. With our digital expertise, we will help the Marry Network to reach their target audience in the best possible way.”
About Myanmar ComBiz Group
Myanmar ComBiz Group (MCBG) was founded in 2005 and is owned by national entrepreneurs from Myanmar. The initial business foundation of the Group lies in information technology and in the telecommunication business, followed by trading business which provides agricultural products to various countries. Myanmar ComBiz Group further expanded their business activities into trading, production and distribution of FMCG, CAN, dairy and agriculture products, oil & gas, machineries and marine products, and construction material. With the establishment of “EinMon Construction Co Ltd”, The Group also started to invest into property and real estate development as well as into construction services. In the year of 2007, ComBiz Group established “Myanmar ComBiz Travels and Tours”, a company which is operating in- and outbound tours as well as event organizer. Currently MCBG is diversified into four different business industries such as Trading, Construction, Tourism and ICT Industry.
About Ringier AG
With a portfolio of over 140 print, radio, TV and online brands, Ringier is the largest diversified media company in Switzerland reaching several million people every day via all channels and a leading investor in digital marketplaces in Europe and Africa. Ringier was founded in 1833 as a Swiss family business. With more than 180 years of history, Ringier stands for pioneering spirit, independence, freedom of opinion and diversity of information. Over the past ten years, Ringier has invested almost CHF 2 billion in digitization. Ringier currently employs around 7,300 people in 19 countries and achieved sales of more than CHF 1 billion in 2018. With a digital share of 71% of the operating result, Ringier has taken a leading position among media companies in Europe.