Oon & Bazul’s Mergers & Acquisitions Practice successfully acted for Humanica, a leading Thailand-based end-to-end human resources and financial solutions provider, in its acquisition of DataOn Group, an Indonesian-based leading provider of human resource, enterprise resource planning, and accounting technology solutions with subsidiaries in Thailand, Hong Kong, and Malaysia, for a purchase consideration of approximately S$76 million (1,989.03 million Thai Baht).
With the acquisition of DataOn, Humanica intends to rapidly develop new flagship products that can be deployed to existing clients and also used to penetrate new market segments. Further, Humanica aims to broaden their multi-country HR outsourcing services to cover more than 10 countries in the region.
This acquisition will allow Humanica to advance its operations as well as leverage on the expertise of the current DataOn management team, and further enable a diversified portfolio of over 2 million users to be served with technology and innovations in software and multi-country payroll outsourcing that have been developed over more than 20 years.
Corporate Partner and Head of M&A Ng Yi Wayn led the team in this transaction.