TRUE Enhances IoT Business with ฿800M. Investment, Taking “CRAVE” Global Tech Business
To enhance TRUE's IoT (Internet of Things) business, the company has invested THB 796.50 million to acquire 51% of CRAVE, a company engaged in global hospitality technology business and incorporated under the United Kingdom Law.
True Corporation Public Company Limited (TRUE) has reported that True Digital & Media Platform Company Limited (TDMP), a wholly owned subsidiary of TRUE, has invested in Crave Interactive Limited (CRAVE), a company engaged in global hospitality technology business and incorporated under the United Kingdom Law.
The investment has been made at the shareholding proportion of 51.0% of total shares in CRAVE for a consideration of no greater than USD 25 million or THB 796.50 million. The objective of this investment is to use CRAVE’s technology to enhance TRUE’s IoT (Internet of Things) business.
Consequently, the following companies become TRUE’s new subsidiaries;
1. Crave Interactive Limited (incorporated in the United Kingdom)
2. Crave Interactive B.V. (incorporated in the Netherlands)
3. Crave Interactive Inc. (incorporated in the United States of America)