News & Activities 27 April 2021

Bluebik Files For An IPO To Become The Region’s Leading Consultancy On Digital Transformation

Bluebik (BLU), the leading consultancy on strategies and management based on innovation and technology, has submitted its application with the Securities and Exchange Commission (SEC) Office for its initial public offering (IPO) of 25 million shares, equivalent to 25% of its issued and paid-up shares at the par value of 0.50 baht per share.

With Yuanta Securities (Thailand) Company Limited as its financial advisor before the listing on the Market for Alternative Investment (mai) this year, Bluebik intends to raise a fund to strengthen its business and unlock its potential as a consultancy on comprehensive digital transformation to increase the capabilities of Thai businesses. It is determined to become a leading consultancy on digital transformation in the region by building business strengths through its 5 areas of services that cover all digital transformation processes to create tangible value and business outcomes for modern organizations.

Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited, said the company, with its expertise in expanding the capabilities and unlocking the business potential of large-scaled organizations with comprehensive technological application, is ready for its listing on the Market for Alternative Investment (mai). The fund-raising campaign is aimed at these following;

  1. hiring highly capable people and enhancing technological skills among its personnel including those concerning cloud technology, artificial intelligence (AI) and blockchain to expand services for the business sector that is more diverse and complicated
  2. developing technological and digital products to provide Software-as-a-Service (SaaS) and establishing a research and development center that will completely meet the digital demand of customers
  3. improving internal management with better software systems that support organizational grows
  4. expanding the office space of the company to suit a bigger workforce in the future; and 5) investing in related and potential business.

Bluebik’s main services are in the 5 following areas.

  1. Advice on strategies and management (Management Consulting) – Bluebik explores factors behind business successes, plots strategies and analyzes the economic impacts and opportunities of technologies applied for business improvement to create the tangible value of technological investment that will lead to exponential growth.
  2. Advice on strategic project management (Strategic PMO) – Bluebik manages the big and highly complicated projects of large-scaled organizations and the formulation of information technology systems for organizations to ensure projects are implemented on schedule and within set budgets.
  3. Digital system development and technological consulting (Digital Excellence and Delivery) – Bluebik gives thorough and comprehensive advice on digital application and technology development to suit the contexts of individual organizations, including the design of user experiences and user interfaces (UX/UI) on websites and applications to solve particular problems in organizations and increase business efficiency and flexibility.
  4. Advice on the management of big data and the advanced analyses of data with artificial intelligence (Big Data & Advanced Analytics) – Bluebik provides advice on the management and analyses of big data with artificial intelligence technology. The company also recommends data-related infrastructures to develop data-driven organizations.
  5. Temporary supplies of experts in information technology (IT Staff Augmentation) – Bluebik temporarily deploys experts in information technology including programmers, and software developers to complete scheduled projects.

Bluebik has shown steady growth. From 2018 to 2020, its annual revenue from sales and services amounted to 132.76 million baht, 184.94 million baht and 200.53 million baht respectively. The compound annual growth rate (CAGR) is 22.90%. During the period, its annual net profit stood at 19.22 million baht, 31.71 million baht and 44.29 million baht respectively, reflecting the CAGR of 51.81%. This results from the mega trends which prompt business organizations to start their digital transformation to increase competitiveness and benefit from technology. The transformation and the expertise of Bluebik as a leading consultancy on innovation and technology for strategies and management have been guaranteeing the steady growth of the company.

“Bluebik is the consultancy focusing on comprehensive advice on digital transformation to improve the capabilities of Thai businesses through technological application. Bluebik’s personnel are the people of the new generation who have expertise comparable to that of world-class companies, understand business contexts in Thailand and stay abreast of the rapidly changing world of businesses. Therefore, Bluebik can truly help enhance the competitiveness and growth of Thai businesses. With its successful services for local organizations, Bluebik is determined to become a leading regional consultancy that uses its internationally recognized knowledge and quality of work to create value for businesses in various industries and ensure their sustainable growth in the Era of Digital Economy,” Mr. Pochara said. 

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