Investment/Bluebik acquired two tec companies

Editorial team

Bluebik acquires two tech companies with investment more than one billion baht.

Bluebik Group Public Company Limited (BBIK), a top service provider of end-to-end digital transformation, invested more than 1 billion baht in acquiring two leading technology companies in the country.

One is a digital delivery unit of MFEC Public Company Limited (MFEC) which is a one-stop IT consultancy and developer. The business unit gathers more than 300 IT and software developers.

The other acquisition is Innoviz Solutions Co., Ltd., a leading consultancy and implementer of the Microsoft Dynamics 365 ERP solution. The company has been well recognized for 17 years in Thailand.

By the end of 2022, Bluebik has acquired about 300 IT and software developers from MFEC's Digital Delivery team to enhance its software development and IT management capabilities to serve increasing demand for digital transformation in the digital economy era. Bluebik strengthens its ERP consulting for clients in all sizes by acquiring Innoviz Solutions, a leading consultancy and implementer of Microsoft Dynamics 365.

The two major acquisitions further enhance the software development and ERP services of Bluebik. Its tech talents will grow by more than double from 350 to 780 and support its business expansion in and outside the country. This paves the way for the exponential growth of Bluebik in line with its three-year strategic plan.

Mr. Pochara Arayakarnkul, chief executive officer of Bluebik Group Public Company Limited, said the acquisition of the digital delivery team of MFEC boosted Bluebik’s capabilities of technology consulting and development (Digital Excellence & Delivery – DX) which was a key revenue driver for Bluebik.

It also creates business opportunities through synergy with MFEC and saves costs by the economy of scale. As a result of the acquisition, Bluebik has as many as 500 experienced IT and software developers and can better accommodate the demand of local and international business organizations for digital transformation.

The acquisition of Innoviz Solutions Co., Ltd., which is a leading implementer of Microsoft Dynamics 365 and a Gold Certified Partner of Microsoft (Thailand) Co., Ltd., will strengthen the growth of Bluebik because ERP is the key to greater productivity and flexible business and a must for the digital transformation and sustainable growth of leading organizations.

“At least 130 ERP experts from Innoviz Solutions will play important roles in increasing the competitiveness of Bluebik and effectively meeting the demand of the existing clients of the group. Moreover, Bluebik can introduce its main products and services to more than 200 clients of Innoviz Solutions, especially small and medium-sized enterprises in consumer product, financial and banking sectors as well as organizations in the public sector.” Mr. Pochara said.

Mr Pochara said the unceasing business expansion of Bluebik accords with its investment plan aimed at following the trend of digital transformation and serving the steadily growing demand of businesses for new technologies to have competitive edge. These positive factors show the growth potential of the technology industry which has been reflected by the new highs of Bluebik’s performance that have continued for consecutive quarters.

He said the acquisition of the two companies will make the future growth of Bluebik particularly attractive because its IT experts will increase by more than double and support its three-year strategic plan.