AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Systems Limited has decided to acquire a 20 percent stake in Retailistan (Private) Limited (RPL). The deal is worth Rs. 468 million and will be carried through Systems Limited’s wholly-owned subsidiary Systems Ventures Limited.
Systems Limited submitted a stock filing to the Pakistan Stock Exchange (PSX) to announce that it had completed its due diligence in the acquisition of a minority shareholding in Retailistan (Private) Limited (RPL), and had recently presented the case to Systems Limited board.
The board has given its approval to the management for the making of investments in the technology-based company through its subsidiary as part of its strategy and long-term investment plans.
This investment is aimed at enhancing its presence in Pakistan’s digital retail landscape, and it complements its investment in EP Systems which manages the OneLoad product.
Retailistan (Private) Limited (RPL) is a leading technology company that is focused on the digitalization of the retail supply chain in Pakistan. The company was founded and is managed by a highly skilled group of four engineers who are well experienced in Pakistan’s retail supply chain.
Their product ‘SalesFlo’ is used by most major producers and distributors of consumer goods in Pakistan. They have also launched a wholly-owned subsidiary called ‘Jugnu’ that aims at disrupting the B2B retail supply chain.
Systems Limited is one of Pakistan’s high-performing IT companies with diversified business portfolios. It had planned to invest in various fintech and startups through its investment subsidiary in the future.
Source: Pro Pakistani