InFocus Group shares jump 37% on Thursday. Here's why.

3 min read | January 23, 2025 12:18 PM AEDT | By Team Kalkine Media

InFocus Group shares jump 37% on Thursday. Here's why. — Image source: Shutterstock

Progress on VigoBet Tech Digital Gaming Project

InFocus secured a multi-phase agreement with GBO Assets to develop the VigoBet Tech platform, expected to generate USD 2.5 million in revenue upon completion. To date, the company has received AUD 500,000 in cash receipts against the initial AUD 1.2 million for the first phase, which is on track to conclude this quarter.

Positive feedback from GBO Assets signals a seamless transition to the second phase of the project, anticipated to commence immediately after phase one. Additionally, the agreement, denominated in USD, positions InFocus to benefit from favorable exchange rate movements as the USD strengthens against the AUD.

Engagement of Ingenium Technologies

InFocus recently partnered with Ingenium Technologies, a UK-based consultancy led by fintech and digital gaming veteran Mr. Clovis Warlop. With extensive experience in the South East Asian markets and leadership roles at major organizations like Thailand’s True Corporation, Hero Poker, and VeVe, Mr. Warlop is already contributing to the success of the GBO Assets project.

Mr. Warlop’s remuneration package, predominantly equity-based, will be outlined in a Notice of Meeting for an extraordinary general meeting scheduled for February 28, 2025. This strategic engagement strengthens InFocus’ capabilities in fintech and digital gaming, reinforcing its global market expansion plans.

Prodigy9 Acquisition to Close in February

InFocus has confirmed that the acquisition of Prodigy9 will be completed on February 4, 2025. Prodigy9 brings advanced retail and fintech expertise to the company, led by its founder, Chakrit Wichian. Since the announcement, Prodigy9’s team has been working closely with InFocus to ensure a seamless integration.

The acquisition is expected to deliver immediate cost synergies with InFocus’ Onify division, and Prodigy9 is projected to become cash-generative for the group within months of the acquisition’s completion. This move positions InFocus to expand its service offerings and enhance profitability across its consolidated operations.

Market Reaction

The positive update has significantly boosted market sentiment, with InFocus shares surging 37% to 2.1 cents as of 23 January 2025.

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