System Ltd to acquire 20% share in RPL
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KARACHI: The board of directors of Systems Limited has approved the acquisition of 20 per cent of the share in Retalistan (Pvt) Limited (RPL) and the board authorized the management to do this investment through its whole owned subsidiary Systems Ventures (Pvt) Limited (SVL).
In notice published at Pakistan Stock Exchange (PSX) website here on Monday said, “Systems Limited having completed its due diligence in the acquisition of a minority shareholding in Retailistan (Private) Limited (RPL), presented the case to the Systems Limited Board in it meeting on May 28th 2021. The board approved the acquisition of 20% of the shares of RPL at a cost of Rs. 468 million and authorized the Systems Management to do this investment through its whole owned subsidiary Systems Ventures (Private) Limited (SVL).”
Founded in 2015 RPL is a leading technology company 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 have had deep experience in Pakistan’s retail supply chain. Their product SalesFlo is used by most of the major producers and distributors of consumer goods in Pakistan. They have also launched a wholly owned subsidiary Jugnu which aims at disrupting the B2B retail supply chain.
Retailistan (Private) Ltd. is the parent company, managing the core operations of ‘SalesFlo’ – it has three further subsidiaries, one of which is aimed at increasing their footprint in South East Asia, another is leading the B2B marketplace disruption and e-distribution model through Jugnu, and third is providing back-office services to leading consumer goods companies for on-ground retail presence.
This investment is aimed at enhancing our presence in the digital retail landscape of Pakistan and it complements our investment in EP Systems which manages the OneLoad product.
Combined these will provide Systems an access to potential synergies in technologies and access to digital mapping of the retail universe.
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