True on buying spree to boost non-telecoms biz - Mobile World Live

True on buying spree to boost non-telecoms biz

10 APR 2019

Thai operator True detailed the latest in a series of investments made over the past month to boost its capabilities in the online retail, IoT and gaming sectors.

In a statement to the Stock Exchange of Thailand yesterday (9 April), True said it invested THB81.7 million ($2.6 million) in local software company Queue Q to drive its expansion in the offline-to-online market. The operator, through its subsidiary True Incube, acquired a 30 per cent stake in the start-up.

Last week True announced it spent $25 million to take a 51 per cent interest in Crave Interactive, a UK-based technology provider for the global hospitality sector that supplies tablet PCs for hotel rooms.

True aims to use Crave’s technology to enhance its IoT business.

In March the operator joined forces with Line Games and Korea Venture Investment to create a finance fund targeting opportunities in the gaming and technology sectors. True invested about $5.9 million in the fund, for a 26 per cent equity stake.

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Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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