Ratch Group moves into IoT business with purchase of stake in Things on Net
Ratch Group (RATCH) has acquired a 35-per-cent stake of Things on Net Company Limited with an investment of Bt180 million.
It paves the way for Ratch to penetrate the Internet of Things (IoT) business, which is regarded as a fundamental technology for driving the digital economy according to Thailand 4.0 policy, and also provides huge potential for investment.
Kijja Sripatthangkura, chief executive of Ratch, says the acquisition marks the next chapter of Ratch in the expansion of its infrastructure business and is in line with the strategic business plan, which targets no less than 20 per cent of total investment in infrastructure and related businesses.
This joint venture gives the company the right to jointly participate in Things on Net's telecommunication network installation and development project, and IoT services in Thailand.
In 2020, Things on Net aims to its expand base station to cover 70 per cent of the country and increase users of the Sigfox's IoT technology network to 85 per cent of the nation's population.
“Ratch is pleased to partner with Things on Net, which marks our move into the IoT network business. We see the IoT business as a perfect complement to our energy and power-related business as well as our fiber optic cable network,” Kijja said.
The IoT business also offers plenty of opportunities due to the high demands of industrial sector for enhanced production efficiency and better cost and supply chain management in order to increase competitiveness and reduce the risk of technology disruption.
Things on Net Company Limited is the Thailand sole operator of the Sigfox network, which is a technology of connectivity through Low Power Wide Area Network (LPWAN). Sigfox network currently provide its coverage network service to more than 50 countries globally.
