Advanced Info Service Public Company Limited (SET: ADVANC) has announced that ADVANC Digital Life Co.,Ltd. (ADL), a 99.99% subsidiary of ADVANC has entered into a share purchase agreement in three startup companies from Intouch Holding Plc. (SET: INTUCH) who is the major shareholder of ADVANC at a total value of 239 million baht.
The detail of three startup companies are as follows;
1) Choco Card Enterprise Co., Ltd. (Choco) with an investment portion of 20.71%
2) Datafarm Co., Ltd. (Datafarm) with an investment portion of 25.00%
3) Swift Dynamics Co., Ltd. (Swift Dynamics) with an investment portion of 16.67%
The investment aims to support ADVANC in driving new value-added digital services that can leverage and strengthen ADVANC’s existing core business. This will secure expertise and technology capability while allowing ADVANC to gain competitiveness and faster market access. Through collaboration and business partnership between ADVANC and these startup companies, ADVANC will be able to rapidly expand into diverse products and services i.e., widening ADVANC’s point redemption ecosystem, capturing market demand for cybersecurity in the enterprise customer segment, accelerating the development of smart IoT and 5G solutions. This investment aligns with ADVANC’s business direction toward driving new digital services beyond the existing telecommunication connectivity.
Choco focuses on CRM & loyalty management platform targeting both corporates as well as small and medium-sized customers in various business sectors. The investment in Choco CRM will support ADVANC to expand our reward redemption ecosystem through point exchange with other corporate redemption programs using the Choco CRM platform. This will benefit ADVANC to enhance our customer engagement with ADVANC as well as provide an opportunity to offer ADVANC’s products and services to potential new customers.
Datafarm is a leading provider in penetration testing and vulnerability assessment addressing the growing demand of various businesses for cybersecurity services. It has a large and capable team of cybersecurity experts to support ADVANC’s direction to grow cybersecurity service with competitive offering to corporate customers, as well as enhance ADVANC’s internal cybersecurity testing and assessment.
Swift Dynamics is a leading end-to-end IoT solution provider with expertise in both hardware and software development, serving corporate clients in several industries. With various IoT applications, Swift Dynamics will enhance ADVANC in providing enterprise solutions in smart building and smart factory as well as 5G solutions.