SABUY Acquires 20% Stake in “A.T.P. Friend Services” to Expand Payment-POS Services

Sabuy Technology Public Limited Company (SABUY) announced the resolution of the Board of Directors’ Meeting held on March 9, 2021 to approve acquiring the common shares of A.T.P. Friend Services Co., Ltd. (Shipsmile), representing 20% from the existing shareholders. The total investment is 70.00 million baht. It is expected that the investment in Shipsmile will be completed by April 2021.

 

A.T.P. Friend Services Co., Ltd. (Shipsmile)’s business type is to sell a franchise to the operator of the postal service which is a collection point for domestic parcel delivery from leading logistic companies such as Flash Express, Thai Post, DHL and LEX Express, etc. and is a insurance broker, counter service, bill payment, distribute postage boxes and a completed copy center. Currently, has more than 1,500 service points or franchises nationwide under the brand Shipsmile. 

 

This transaction aims to support the growth strategy of the group of companies in related businesses especially to expand payment points electronic payment services, POS services, and may also include money transfer services, additional top-up points,expansion channels for vending machines business providing services to commercial banks such as deposits and withdrawals, etc.