E-commerce firm Shopmatic buys brick-and-mortar retail solutions specialist Octopus
Singapore
LOCAL e-commerce solutions startup Shopmatic is acquiring brick-and-mortar retail solutions specialist Octopus Retail Management as it pursues an omnichannel strategy.
Shopmatic co-founder and CEO Anurag Avula told The Business Times that through a cash and share swap, Shopmatic Holding now owns a 50.1 per cent stake in Octopus. Shopmatic Holding wholly owns Shopmatic Pte Ltd, the operating entity. Mr Avula declined to reveal the size of the deal.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Startups
Ninja Van axes more than 20 employees in tech team in Singapore
Temasek-backed PsiQuantum to build first commercial quantum computer
Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
GoTo narrows Q1 loss to 420 billion rupiah with TikTok deal, cost cuts
Health-tech startup Thrixen bags US$7 million from 22Health Ventures, Aldevron co-founder
Goodbye Garage, hello Tech in Asia: How BT’s startup coverage is evolving