Business Daily Media

Men's Weekly

.

Foodics Acquires POSRocket And Becomes The Dominant Restaurant-Tech Provider In MENA

  • Written by PR Newswire
  • Strategic Landmark first acquisition for Foodics to consolidate the market
  • Deal positions Foodics as the dominant Restaurant-tech provider in MENA
  • POSRocket is the second largest restaurant Cloud technology player in the region
  • First acquisition also opens the door to further upcoming M&A activities

RIYADH, Saudi Arabia, Jan. 10, 2022 /PRNewswire/ -- FOODICS[1], the leading GCC Restaurant-Tech company based in Saudi Arabia, has announced today its first acquisition, with the full ownership of POSRocket[2], the second largest restaurant Cloud technology provider in MENA. 

Foodics Acquires POSRocket And Becomes The Dominant Restaurant-Tech Provider In MENA Photo of Foodics CEO - Ahmad Al Zaini and Chief Executive Astronaut POSRocket - Zeid Husban (left to right)

This landmark acquisition is a strategic move by both companies and one that enables Foodics to consolidate the market, as well as take market leadership position in Egypt, Kuwait, Oman and Jordan on top of the dominant position it already had in the rest of GCC. This first acquisition also opens the door to further upcoming M&A activities and international expansion from Foodics.

Founded in 2016 in Jordan, POSRocket offers cloud-based POS software for restaurants and retailers, allowing owners to remotely manage operations in real-time. The acquisition will allow POSRocket merchants to benefit from Foodics' ecosystem in managing payments, supplies and capital lending infrastructure.

Ahmad Al-Zaini, Foodics CEO and Co-founder commented, "We are delighted to welcome the POSRocket astronaut team, its clients and partners to the Foodics family and look forward to growing together for the benefit of the wider ecosystem. Our acquisition of the fast growing and second largest restaurant Cloud technology provider in the region is very strategic as it naturally establishes our position as the dominant player across MENA and beyond."

Zeid Husban, POSRocket Chief Executive Astronaut and Founder commented, "Foodics is a natural fit for POSRocket, as both brands are driven by helping business owners grow their operations. Bringing our talented teams together is a strategic move that yields us a unique competitive advantage. Now powered by Foodics, the POSRocket astronauts are delighted to be joining a larger team and brand, and with access to funding, we are looking forward to a bright future together."

Since its inception in 2014, Foodics has successfully already processed over US$5 billion worth of orders through its platform, and is targeting 150,000 terminals by the end of 2024.

More information about FOODICS[3]:

https://www.foodics.com/[4]

References

  1. ^ FOODICS (www.foodics.com)
  2. ^ POSRocket (www.posrocket.com)
  3. ^ FOODICS (www.foodics.com)
  4. ^ https://www.foodics.com/ (www.foodics.com)

Read more https://www.prnasia.com/story/archive/3625587_AE25587_0

Hays launches FY25/26 Salary Guide: ‘Salary Paradox’ deepens as pay rises fail Australians

Rising dissatisfaction with pay, progression and perks is fuelling a new wave of career change in FY25/26, as Australians demand more from employe...

Australian Businesses Still Stuck in the AI Hype Cycle

Data Governance Failures, ROI Gaps and Unclear Strategy Slowing Progress Despite artificial intelligence (AI) dominating headlines and boardroom ag...

How to ensure your manufacturing business survives international tariff turmoil

Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

Beyond borders: Building a scalable strategy for international hiring

For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

The Next Generation of Maritime Sustainable Solutions

As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

Sell by LayBy