MFEC sold its Digital Delivery business to BBIK for 691 million baht.

MFEC Public Company Limited (MFEC) informed the Stock Exchange of Thailand on December 1, 2565 that the Board of Directors resolved to restructure the company. The Digital Delivery business will be sold to Bluebik Public Company Limited (BBIK) for a total value of 691 million baht. It is expected that the transaction will be completed by March 2566.

The Company will establish two new subsidiaries for the purpose of restructuring the internal business structure of the Group, namely Eastwind Holdings Company Limited (EWH) and Vulcan Digital Delivery Company Limited (VDD). Adjust the internal business structure of the group of companies. The Company will sell assets used in the Digital Delivery business unit, such as computers and related equipment, to VDD, an indirect subsidiary of the Company.

The Company and transferred all software developer employees and other related employees in the Digital Delivery business unit, approximately 300 people, to VDD.

In addition, in order to provide continuous service to the company's customers during the transition period. The Company will hire VDD as a sub-service provider for contracts that the Digital Delivery business unit (on behalf of the Company) has with customers who are still in the process of providing software development services or contracts in any of the Company's projects that are still in progress. A warranty that covers future services under a Maintenance Agreement (MA).

EWH, a subsidiary of the Company Transferring the entire business under the entire business transfer process (Entire Business Transfer or “EBT”) to BBIK as a result of the said entire business transfer. This will cause all assets, liabilities, rights, duties and responsibilities of EWH that currently exist and that will exist in the future on the business transfer date, which are common shares of VDD, to be transferred to BBIK, which will result in EWH and VDD ceasing to be companies. Subsidiaries of the group of companies

EWH will receive cash as consideration for the entire business transfer to BBIK, totaling THB 691,000,000, whereby EWH will receive a one-time payment on the completion date of the entire business transfer. The transaction is expected to be completed within March 2566.