InFocus Group Holdings (ASX:IFG) Completes Acquisition of Prodigy9
Acquisition Completion and Strategic Impact
InFocus Group Holdings Limited (ASX: IFG) has completed the acquisition of Prodigy9, a Bangkok-based software engineering consultancy specialising in data analytics platforms for fintech, insurance, and logistics sectors. This acquisition deepens InFocus’ expertise in digital data analytics and software engineering, transitioning the company from an external tool provider to offering end-to-end consulting services.
Financial Performance
Prodigy9 reported a CY2024 revenue of THB 28.5 million (AUD 1.35 million) and aims to become cash flow generative to InFocus within months. The acquisition included the issuance of 10,000,000 shares and 33,750,000 performance rights to Prodigy9’s vendors, as approved at the 2024 Annual General Meeting.
Future Outlook and Synergies
InFocus plans to implement a shared services model to create material synergies across its business units, centralising administrative and overhead activities. This approach is expected to limit duplication of roles and support future acquisitive growth. Collaborative service delivery will be employed for key projects, including the USD 2.5 million GBO Assets digital gaming product development contract.
Executive Comments
Chief Executive Officer, Ken Tovich, stated, “We are excited to now formally complete our acquisition of Prodigy9. Prodigy9 brings to InFocus proven software development consultancy experience for large scale enterprise clientele and a depth of new experience and capabilities across cybersecurity, Artificial Intelligence applications, web and app development, and more. With early integration planning having commenced months ago, we are well placed to now execute on our shared services single cost-centre model, which will centralise all administrative and overhead activities across our business units. This approach will limit duplication of roles and sets the Company up for future acquisitive growth. Our internal target is for Onify and Prodigy9 to be cash flow generative to InFocus within months.”
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