From e-commerce service providers to tech-driven solutions, these acquisitions reflect the thriving innovation landscape within the country. As companies scale to meet the increasing demands of digital transformation, mergers and acquisitions are proving to be key drivers of growth, allowing both acquirers and acquirees to enhance their capabilities, broaden their service offerings, and tap into new markets. In this article, we delve into some of the most impactful startup acquisitions in Thailand, showcasing the companies that are reshaping industries and setting the stage for future growth.

KYKLO

KYKLO, founded in 2015 by Remi Ducrocq (CEO) and Fabien Legouic (CTO), is a leading provider of Product Information Management (PIM) and content-driven lead generation solutions tailored for manufacturers and distributors, with offices in Bangkok and New York. In 2024, the company was acquired by Epicor for an undisclosed amount, enhancing Epicor's product information management capabilities and advancing its vision of an AI-driven cognitive ERP system that integrates records, insights, and actions. KYKLO’s solutions have been widely adopted by manufacturers such as Mitsubishi Electric, which praised its platform as the best lead-generation tool they’ve ever developed.

Geekstart

Geekstart Company Limited, founded in 2011, is a Thailand-based provider of generative AI-powered consulting software, specializing in digital solutions such as IoT platforms, ERP systems, and software development for both private and public companies. In 2024, the company was acquired by Ramssol Group Berhad for $1.05 million, a strategic move to strengthen Ramssol’s digital transformation capabilities across Southeast Asia, particularly in sectors like smart cities, energy management, education, and manufacturing. The acquisition includes a profit guarantee, with Geekstart committed to achieving at least $1.05 million in profit after tax for 2024 and $1.58 million for 2025.

Sivadon Logistics

Sivadon Logistics, founded in 2001 by Sivadon Distribution Co., Ltd., is a Thailand-based logistics provider with over two decades of experience in delivering comprehensive logistics services. In 2024, the company was acquired by Singapore-headquartered Amilo for an undisclosed amount, as part of Amilo’s strategy to strengthen its operational capabilities and expand its logistics network in Southeast Asia, particularly in Thailand. This acquisition, Amilo’s third, will support the company’s cross-border service expansion and enhance its ability to help international brands enter Thailand while enabling Thai SMEs to scale globally.

Hooray!

Hooray!, founded in 2015 in Thailand, is a popular brand known for its high-protein milkshakes and functional food products, catering to health-conscious consumers seeking nutritious and convenient options. In 2024, the company was acquired by Made Group for an undisclosed amount, marking a strategic move to expand Made Group's presence in the health-focused beverage and functional food market. This acquisition strengthens Made Group’s portfolio by leveraging Hooray!’s strong brand recognition and market position in Thailand.

Prodigy9

Prodigy9, a Bangkok-based software engineering consultancy founded in 2020 by Chakrit Wichian, specializes in high-performance data analytics platforms, fintech applications, and ERP solutions for sectors like retail and logistics. In 2024, the company was acquired by Frugl Group Limited (ASX: FGL) through a deal involving 10 million Frugl shares and performance-based incentives tied to revenue and profitability milestones. This acquisition, pending shareholder approval, enhances Frugl’s digital data analytics and software engineering capabilities, positioning it as a full-service consultancy within Southeast Asia’s tech landscape.

DRVR

DRVR, a Bangkok-based telematics company founded in 2014 by Jade Howe and a team of seasoned experts, specializes in mobility solutions across the ASEAN region, focusing on fleet management, road safety, and driving behavior enhancement through AI-driven, app-based technology. In 2024, the company was acquired by Sentiance, a leader in mobile-first motion insights, to strengthen its mission of advancing road safety across Asia. This acquisition integrates DRVR’s team, leadership, and clients into Sentiance, enhancing privacy-first, data-driven safety solutions and expanding their impact on reducing road accidents throughout the region.

IndieKnow

IndieKnow, an educational platform founded in 2021 by Andy Haggerstone, provides tools and resources to help self-releasing musicians with their music release strategies, including a release planner, press release writing wizard, and a database of PR contacts. In 2024, the company was acquired by Unhurd, an AI-powered music promotion platform, in a move aimed at integrating IndieKnow’s educational resources into Unhurd’s platform to enhance artist support. The acquisition, which will be fully integrated by early 2025, is expected to provide added value to Unhurd's subscribers by bridging the knowledge gap for artists preparing to release music.

Crea

Crea, an e-commerce service provider founded in 2019 by former Lazada co-founders Aimone Ripa di Meana and Alessandro Piscini, specializes in omnichannel solutions to enhance brand performance across digital platforms like Lazada, Shopee, and social media. In 2024, the company was acquired by Vietnam-based e-commerce enabler OnPoint, aiming to strengthen its presence in Southeast Asia’s growing digital commerce sector. The acquisition expands OnPoint's capabilities, with the combined entity now supporting over 250 brands and a workforce of more than 1,600 employees, backed by SeaTown Private Capital Master Fund, an investment firm linked to Temasek Holdings.

The wave of startup acquisitions in Thailand throughout 2024 signifies a dynamic and evolving business environment. As these strategic deals unfold, they not only bolster the growth trajectories of both acquirers and acquirees but also contribute to the overall expansion of Southeast Asia’s digital and tech-driven sectors. With each acquisition, companies are creating synergies that enhance their competitive edge, positioning themselves to thrive in a rapidly transforming market. As we look ahead, the continued trend of consolidation and innovation promises to further propel Thailand’s role as a leading hub for startups in the region.