Sabuy Technology Public Company Limited (SABUY) has announced that the resolution of the Board of Directors’ Meeting No. 10/2021 held on October 19, 2021, approve acquiring the common shares of A.T.P. Friend Services Co., Ltd. (Shipsmile) not more than 10 percent from the existing shareholders. The total investment is 37.50 million baht.
The company stated that the sellers are shareholders of Shipsmile which is not Triple i Logistics Public Company Limited and it’s not the connected person.
Shipsmile’s business is selling franchises to entrepreneurs in both postal services and collection point for domestic parcel delivery from leading transport companies such as Flash Express (Flash), Thailand Post, DHL and LEX Express, etc. and be a sales representative for insurance, tax act, counter services, bill payment, distribution of postal boxes and a copy center with more than 4,000 service points or franchises nationwide under the Shipsmile brand.
SABUY expected the acquisition in Shipsmile to support the growth strategy of the group of companies in related business especially the expansion of payment points, E-payment services, POS services, and may also include money transfer services, adding a top-up point, be channels to expand the vending machine business and providing services for commercial banks such as deposits and withdrawals, etc.
Earlier this morning, SABUY reported an outstanding 3Q21 performance with a 148% increase in net profit. The company reported that the increase in net profit was partly a contribution from A.T.P. Friend Service Co., Ltd.
