KARACHI: Systems Limited, one of the top technology companies in Pakistan, shortlisted in Forbes’s top 200 companies list has approved a plan to invest in Retailistan Private Limited (RPL), an online retail portal, in a bid to increase its presence in the high potential digital retail landscape of Pakistan.
“This investment is aimed at enhancing our presence in the digital retail landscape of Pakistan,” Systems Limited said in a statement issued at the Pakistan Stock Exchange today. It will provide Systems access to potential synergies in technologies and access to digital mapping of the retail universe, it added.
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 its meeting on May 28. The board approved the acquisition of 20 per cent of the shares of RPL at a cost of Rs468 million and authorised Systems Management to do this investment through its wholly-owned subsidiary Systems Ventures (Private) Limited (SVL).
Retailistan Limited, founded in 2015, is a leading technology company focused on the digitalisation of the retail supply chain in Pakistan. The company was founded and is managed by a group of four engineers.
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