InFocus Restructures to Slash Costs and Sharpen Focus on iGaming and Digital Assets

Operational Restructure Targets Immediate Cost Savings

InFocus Group Holdings Limited (ASX:IFG) has embarked on a significant operational restructure designed to materially reduce costs and streamline its software and platform development operations. The company will consolidate its enterprise software development under the Onify brand, shedding the Prodigy9 subsidiary by returning it to its founder, Chakrit Wichian, in a cash-neutral transaction that transfers all associated liabilities and operational responsibilities back to him.

CEO Ken Tovich highlighted the impact of AI-native engineering workflows on software delivery economics, noting that these advancements compress development cycles and demand leaner, more senior teams focused on complex architecture and strategic outcomes. The restructure reflects a strategic pivot to align with this new industry reality.

Prodigy9 Divestment Avoids Costly Wind-Down

Rather than winding down Prodigy9 internally; which would have required significant upfront cash outlays for severance and operational shutdown costs; InFocus has opted for a transfer of ownership back to Wichian. This move eliminates Prodigy9's cost base from the group’s consolidated results immediately, without the cash drain or shareholder dilution a wind-down would entail.

Wichian assumes full liability for Prodigy9 from 1 June 2026, retaining certain client contracts, including the substantial IRCP project supporting Thailand’s social security infrastructure. Several other ongoing projects deemed immaterial to IFG will also remain with Prodigy9. This arrangement allows InFocus to realise cost savings swiftly while preserving key client relationships and delivery capabilities under Onify.

Client Retention and Enterprise Consolidation

Despite the divestment, InFocus retains marquee clients such as Chubb Life (a subsidiary of NYSE-listed Chubb Limited), Thai Union, and The Mall Group, alongside its iGaming and digital assets customers. These clients and senior engineers will be consolidated within Onify, which will focus on complex software delivery, AI and machine learning implementation, data intelligence, and strategic growth ventures.

This consolidation reflects a sharper focus on capital efficiency and delivering high-value enterprise services in an AI-native environment. The restructured Onify team will be smaller but senior, tasked with driving both enterprise engagements and the company’s growth initiatives.

Growth Ventures Unaffected and Commercialisation Progressing

InFocus’s strategic growth ventures, including Codexa and InFocus Digital Ventures, remain untouched by the restructuring. Codexa, the company’s proprietary sweepstakes casino platform, is advancing towards a US commercial launch targeting a market estimated at over US$10 billion in gross player spend and growing rapidly. The platform features blockchain-verified fairness and AI-driven personalisation, underpinning a dual commercialisation strategy involving white-label licensing and potential sale.

The digital assets and blockchain initiatives continue to leverage IFG’s core software engineering and fintech capabilities, supported by a AUD 2.5 million investment from Southeast Asia’s Mythos Group. These ventures represent the company’s strategic growth engines beyond its enterprise services.

Share Buyback and Outlook

As part of the Prodigy9 divestment, Wichian has agreed to a future buyback and cancellation of 4.5 million IFG shares issued to him during the acquisition of Prodigy9, subject to shareholder approval. This move could reduce share count and simplify the capital structure, though timing and approval remain uncertain.

With the restructuring underway, InFocus expects immediate cost savings as Prodigy9’s expenses exit the group and office consolidations take effect within three months. The company anticipates its software and platform business becoming cash generative for the first time once savings are fully realised.

Investors will be watching how swiftly the Prodigy9 divestment completes and how effectively the leaner Onify team can maintain client delivery while supporting IFG’s growth ventures in competitive and rapidly evolving sectors.