Com7 getting into IT system management business
Com7, an IT device and accessories retailer, is entering the IT system management and maintenance market and plans to invest more than Bt500 million to expand to at least 500 branches by 2017.
There may also be additional branches in Myanmar and Vietnam next year, chief executive officer Sura Khanittaweekul said at press conference yesterday.
The company will also finalise its initial public offering of 300 million shares next month but the price has not yet been set, he said.
Sura said the IPO proceeds would be spent on paying short-term debts, adding to the cash flow for expanding branches and fuelling the IT system management and maintenance service.
"There should be a full-service IT system provider to support small and medium-sized business," Sura said.
The company owns more than 300 branches of Banana IT, iStudio by Comseven, and iBeat by Comseven.
Sura said it planned to utilise its advantage of covering all areas of the country by providing the new IT system management and maintenance service under the Banana Business banner. There is room to grow in this market because of low competition, he said.
He said the company would sell a package of information-technology devices and after-sale services including instalment and repair.
The new service is expected to start operations next month with a 2015 marketing budget of Bt5 million and a forecast revenue target of Bt2 billion next year.
The firm forecasts revenue of Bt14.7 billion this year, up from last year’s Bt14 billion.
The company expects its annual revenue to grow by around 5 per cent in each of the next two or three years.
