Singapore’s Sea Is Said to Eye Sale of Phoenix Labs to Cut Costs

Sea Ltd. is considering a sale of Vancouver-based indie developer Phoenix Labs as the Southeast Asian internet giant slashes costs and focuses on its core business, according to people familiar with the matter.

The Singapore-based gaming and e-commerce company is working with an adviser on the potential divestment, the people said, asking not to be named as the information is private. The sale process hasn’t formally started and investor interest has been muted so far, said the people.