Frugl Group's Acquisition of Prodigy9

Frugl Group Limited (ASX:FGL) has announced its agreement to acquire Prodigy9 Co., Ltd, a Thailand-based software engineering consultancy specializing in the development of data analytics platforms, particularly in the retail sector. The acquisition aims to deepen Frugl's expertise in digital data analytics and software engineering, expanding its service offering to include end-to-end consulting services. The acquisition terms involve acquiring Prodigy9 for 10 million Frugl shares plus performance-based incentives linked to revenue and profitability milestones.

Executive Commentary on the Acquisition

Chief Executive Officer, Ken Tovich, expressed his excitement about the acquisition, highlighting the immediate acquisition of an established business with proven data analytics capabilities. He emphasized the integration of service offerings from InFocus Analytics, Trienpont, and Prodigy9, enabling Frugl to offer a comprehensive end-to-end consulting service encompassing both data analytics technologies and engineering capabilities to deliver new software solutions for clients.

Summary of Frugl's Acquisition and Outlook

Frugl Group's acquisition of Prodigy9 is set to deepen its digital analytics and software engineering capabilities, expanding its service offering to include end-to-end consulting services. The acquisition terms involve acquiring Prodigy9 for 10 million Frugl shares plus performance-based incentives linked to revenue and profitability milestones. With the addition of Prodigy9, Frugl aims to explore new products, services, and markets by leveraging the secondary capabilities acquired, such as cybersecurity, AI applications, web and app development, team augmentation, and SaaS development. The Company anticipates seeking shareholder approval at the upcoming Annual General Meeting in mid-November, with the acquisition expected to contribute significantly to the consolidated group's future achievements. Frugl's strategic vision includes exploring the adaptation of acquired capabilities into new products, services, and markets, positioning the Company for future growth and success.