SABUY Technology Public Company Limited (SET: SABUY) has announced that its Board of Directors held on January 10, 2022, approved the acquisition of shares in PaysPost Service, Laundry Bar (Thailand), Citysoft Infotech, Investment in startup business in EATLAB and Keene Profile (Thailand) and capital increase in SABUY Accelerator.
On January 10, 2022, SABUY approved the purchase of ordinary shares of Payspost Service Company Limited (Payspost) in the proportion of not more than 75% from the existing shareholders. The total investment value is not more than 56.25 million baht.
Payspost operates business in the form of franchise sales to operators in transportation services by collecting leading domestic transport in one store, such as Flash Express, Thailand Post and J&T Express, bank loan, car registration loan, insurance work, document work, bill payment, money transfer, various services in one shop at present, Pays Post has 1,317 franchise branches and has also opened a management system (Operating Platform) for Pay Point Company Limited (Pay Point) which has 500 franchise branches, which operate the same business of Pays Post.
SABUY expected this investment to support growth strategy of the group of companies in related business, especially the expansion of the payment point electronic payment services, POS services, and may also include money transfer services. Adding a top-up point channel to expand the vending machine business providing services to commercial banks such as deposits and withdrawals, and increasing the number of branches in the delivery group and advancing towards becoming a leader in the dropoff business.
For the second acquisition, the Board of Directors approved the purchase of ordinary shares of Laundry Bar Thai Company Limited (LBT) in the proportion of not more than 20% from the existing shareholders. The total investment value is not more than 45 million baht.
LBT is a service provider self-service laundromat (Self-Service Laundry) and is the innovator of automatic detergent dispenser innovation. To pass the laundry detergent softener and disinfectant into the machine to answer the question of cleanliness, full comfort and provide washing and drying machines with quality, standards, hygienic, fast, washing and drying can be completed within one hour.
The company expected this investment to create Business Synergy in the company’s services such as payment channel, vending machine and in the company’s 7 convenience businesses and save time in developing a convenience business group. In the meantime, the investment will create more sales promotion by creating a promotion campaign between the company and LBT. In addition, the company will enter into a business alliance with LBT, the leading laundry business in Southeast Asia which uses world-class quality equipment and has more than 600 branches around the world.
In addition to the aforementioned two acquisitions, the Board of SAUY also approved to invest in the purchase of ordinary shares of Citysoft Infotech Company Limited (CITY) in the proportion of not more than 56% from the existing shareholders. The total investment value does not exceed 58.50 million baht.
CITY is one of the leaders in the software development business (computer software packages) for various businesses. Most customers are in the retail business in various categories, including grocery chains (convenience stores, mini-marts, supermarkets, etc.). department stores), general retail stores (clothes, fashion, shoes, jewelry, books, medicines, gift shops, sporting goods, pet shops, IT products, and mobile phones, etc.), food stores and beverages (coffee, bakery, bread, ice cream, restaurants, both Quick service and full service) to meet the needs of various customers.
SABUY expected the investment to save time in creating a team that will develop SABUY POS and SABUY Counter systems in the future because City has more than 20 years of experience in POS systems. The investment will help learning (Learning Curve) in management and technology related to the service of POS machines and software systems and increasing the customer base in SABUY ecosystem by collaborating with Sabuy’s payment gateway in the City POS system with customer base in various types of retail businesses, which is a large and well known businesses and has a chance to buy continuously.
As for the last investment that the Board of Directors approved yesterday, the company will, through its subsidiary SABUY Accelerator Company Limited (SABUYAC), invest in EATLAB Company Limited (EATLAB) in the proportion of not more than 10.15% with a total investment value not more than 27.55 million baht, and Keene Profile (Thailand) Company Limited (KEEN PROFILE) in the proportion of not more than 15% from the existing shareholders with a total investment value not more than 10 million baht.
EATLAB is a SaaS (Service as a Solution) service provider for restaurants to help them decide on food menu design, promotions, campaigns to boost sales by having AI study behavior or patterns of most customers in order to define a decision model for the restaurant, food helping to think of promotions and saving time.
KEEN PROFILE is a service provider in HROD Tech, which is considered a business with few service providers in Thailand. The program has been developed in human resource management in addition to HR Management/Development that covers not only employee welfare or employee development through training or workshops in general, but also covers management of engagement and employee engagement and employee performance management through various metrics such as KPIs/OKRs, etc.
Lastly, the Board of Directors approved the capital increase in SABUY Accelerator Company Limited (SABUYAC) and approved the 100% investment. As a result of the Board of Directors’ resolution to approve the establishment of SABUYAC to expand the investment of the group of companies related to innovation and increase the potential of products and services in the ecosystem of the group of companies with a registered capital of 10 million baht, with SABUY investing in the proportion of 90%, SABUYAC has started considering two companies that invest (according to the agenda proposed above) with an investment amount of 37,550,000 baht. SABUYAC wishes to invest.
In additional businesses, in order to facilitate management, SABUYAC proposes to request a capital increase from 10 million baht to 100 million baht by giving the Board of SABUYAC the power to call for an increase in the paid-up capital according to the amount that SABUYAC can. In addition, SABUY will invest 100 % of all investments in SABUYAC (from 90 percent).
