Radiant Group makes a 70% acquisition of World Pos Sdn Bhd a company that provides e-Commerce software and mobile solutions to enterprise, retailers and SMB chain-stores with the aim of offering O2O commerce, delivering omnichannel sales to be achieved online, and customers opting for self pick up or delivery.
As part of the purchase, Radiant also made an inter-conditional purchase of a 70% stake in World Portal Sdn Bhd which provides web-based B2B portals to retailers and their consignment suppliers, for process automation and supply chain management. Its solutions are enabled with mobile application for real-time decision making.
The companies were purchased for RM1.1 million with a profit guarantee of RM0.35 million for a 15-month period from the date of acquisition.
Paul Yap Ban Foo, Managing Director “The acquisitions simultaneously allow us to add their existing customers and speed up the on-boarding of even more SMBs and enterprises. Moreover, the pooling together of resources expands our development team to have greater flexibility of customization and to utilize latest software technology to meet customer needs.”
Radiant aims to enable retailers to digitalise their operations and enhanced competitive edge. The move is part of the groups initiatives of becoming one of the main B2B solutions providers for the retail market.
