InFocus Bolsters Digital Edge with Prodigy9 Acquisition
InFocus Group Holdings has completed its acquisition of Bangkok-based Prodigy9, enhancing its software engineering and data analytics capabilities while aiming for rapid cash flow generation.
- Acquisition of Prodigy9 expands InFocus into end-to-end consulting services
- Prodigy9 brings expertise in fintech, insurance, logistics, and cybersecurity
- Shared services model to centralise overhead and drive cost synergies
- Prodigy9’s 2024 revenue AUD 1.35 million, targeting cash flow positive within months
- Collaborative delivery on USD 2.5 million GBO Assets digital gaming contract
Strategic Acquisition Deepens Expertise
InFocus Group Holdings Limited (ASX: IFG) has officially completed the acquisition of Prodigy9, a Bangkok-based software engineering consultancy specialising in data analytics platforms. This move significantly broadens InFocus’s footprint beyond its existing tool-based offerings, positioning the company as a provider of comprehensive end-to-end consulting services. Prodigy9’s deep experience in fintech, insurance, and logistics sectors complements InFocus’s core strengths and opens new avenues for enterprise-scale projects.
Prodigy9’s founder, Chakrit Wichian, has cultivated a strong client base among Thailand’s top corporations, giving InFocus a valuable foothold in the Southeast Asian market. The acquisition brings not only enhanced technical capabilities but also a respected brand that will operate as a distinct entity within the InFocus portfolio.
Unlocking Synergies Through Shared Services
InFocus plans to implement a shared services single cost-centre model across its business units, including Onify and Prodigy9. This centralisation of administrative and overhead functions is designed to eliminate duplication, reduce costs, and create operational efficiencies. CEO Ken Tovich emphasised that this approach will underpin future acquisitive growth, enabling the company to scale without proportionally increasing overhead.
The collaborative delivery model is already in action, with Prodigy9, Onify, and InFocus Analytics jointly contributing to the USD 2.5 million GBO Assets digital gaming product development contract. This synergy highlights the complementary strengths of each unit and the potential for cross-business innovation.
Financial Outlook and Growth Prospects
Prodigy9 reported unaudited revenue of THB 28.5 million (approximately AUD 1.35 million) for calendar year 2024. InFocus has set an internal target for Prodigy9 and Onify to become cash flow generative within months of the acquisition’s completion. While the integration risks remain, the shared services model and combined expertise provide a credible pathway to achieving this goal.
The issuance of 10 million shares and 33.75 million performance rights to Prodigy9’s vendors, approved at the 2024 AGM, reflects InFocus’s commitment to aligning incentives and securing long-term value creation from this acquisition.
Positioning for Future Expansion
This acquisition marks a pivotal step in InFocus’s evolution from a data analytics and software solutions provider into a more diversified technology consultancy with a broader service offering. The company’s enhanced capabilities in cybersecurity, AI applications, SaaS development, and team augmentation position it well to capture emerging opportunities in digital transformation across multiple industries.
Investors will be watching closely to see how effectively InFocus integrates Prodigy9’s operations and whether the anticipated cost synergies and revenue growth materialise in the coming quarters.
Bottom Line?
InFocus’s acquisition of Prodigy9 sets the stage for accelerated growth—but execution will be key to unlocking promised synergies.
Questions in the middle?
- How quickly will Prodigy9 achieve cash flow positivity within InFocus’s shared services model?
- What impact will the acquisition have on InFocus’s overall profitability and margins?
- Can InFocus leverage Prodigy9’s Southeast Asian client base to expand its regional presence?
