WASHINGTON and JAKARTA, Indonesia, Feb. 20, 2020 /PRNewswire/ -- FiscalNote, a global technology and media company, today announced that they have entered into a Memorandum of Understanding (MOU) to create a new joint venture company with Bisnis Indonesia, Indonesia's oldest and largest business and economic media organization.
The joint venture will see FiscalNote distribute Bisnis Indonesia's legal and regulatory content and data exclusively within the FiscalNote platform later this year for its global customers, adding to its growing international data and content, and will seek to create new products in the financial information space. Additionally, the company announced plans to distribute and market its Issues Management software product through the venture to Indonesia's leading companies to help them understand global regulations.
The new company, to be headquartered in Jakarta, will propel FiscalNote into the fourth largest country in the world by population and will seek to expand to neighboring countries such as the Philippines, Thailand, Malaysia, and Singapore to collect more regulatory and policy information. As part of the deal, FiscalNote will obtain a 49% ownership stake in the venture.
"With a population of over 275m people today, Indonesia is at the heart of the world's growth engine in Southeast Asia," said Tim Hwang, founder and CEO of FiscalNote. "Alongside Bisnis Indonesia, we are excited to be able to deliver cutting edge data from one of the fastest growing markets in the world to our global customers who are seeking to understand the country's laws and business sector."
"We are thrilled to combine the historic brand and data of Bisnis Indonesia with the cutting edge technology that FiscalNote provides," said Lulu Terianto, President of Bisnis Indonesia. "We look forward to building a great joint venture together to unlock the potential of the Indonesian market for the world."
FiscalNote-Bisnis Indonesia plans to begin operations in Jakarta later this year.
FiscalNote is a technology-powered global software data and media company that uses powerful machine learning to provide clients with the right policy information and insights, and at the right time so that they can better navigate market risk and uncertainty and maximize new opportunities.
As the premier hub of domestic and global information for more than 5,000 clients worldwide, FiscalNote's tools, analysis, news, and award-winning journalism delivers context, clarity, and a competitive edge in a rapidly changing world.
About Bisnis Indonesia:
Founded in 1985, Bisnis Indonesia presents information on the capital markets, banking, insurance, pension funds, financing, infrastructure, property, information technology, agribusiness, mining and energy, tourism, transportation, and political issues that are closely related to economic and business policy to Indonesians everyday. Bisnis.com is known as the largest online business portal in Indonesia and is a member of Bisnis Indonesia Group of Media (BIG Media).
With the slogan 'Trusted Business Navigation', Bisnis Indonesia continues to build trust and commitment to provide reliable information so that it becomes a market leader in business and economic reporting.