Radiant expands software solutions to F&B sector via acquisition of Adaptive POS
KUCHING: Retail technology solutions provider Radiant Globaltech Bhd ( Radiant) is expanding its software solutions to the food and beverage ( F& B) sector, through the acquisition of computer programming and software consultancy Adaptive POS Sdn Bhd (APSB).
APSB provides point- of- sales software system for F& B sector, consisting of cloud-ready frontend and back- end system, and other add- on systems such as Digital Menu and Queue System. Its customer portfolio includes prominent F&B chains in Malaysia and Singapore.
The group is also acquiring Infoconnect Commerce Sdn Bhd ( ICSB) to complement its existing retail portals and expand its clientele. ICSB is a provider of e- ordering software solution, software integration and related services, whose clientele includes reputable manufacturing firms.
The group would acquire 1,400,000 ordinary shares or 70 per cent stake in APSB for RM1.4 million from Iconpos Sdn Bhd. The group would also acquire 100 per cent stake or 650,000 ordinary shares in ICSB for RM650,000 from Chong Jen Tsin.
The acquisitions, effected through two share sale agreements yesterday, stood at RM2.05 million in total, and would be paid for in cash through internally generated funds.
“Having established a strong foothold in the retail segment, with a growing clientele of prominent retail and supermarket brands adopting our software solutions, Radiant Group is keen and ready to expand our horizons into the F& B segment with the acquisition of APSB,” Radiant managing director Paul Yap said in a statement.
“In addition, the acquisition of ICSB not only grants us immediate access to new customer base, but also enables technology sharing and cross-marketing of an expanded range of software solutions to our now enlarged clientele.
“We look forward to working closely with the management and staff of APSB and ICSB as we combine forces to realize the next phase of growth.”
“Radiant Group’s current customer base comprises prominent retail chains including Aeon Big, 99 Speedmart, Parkson, Watsons and Guardian.
“Our experience in providing retail technology solutions to nationwide-network retail chains has prepared us to serve the robust and fast- evolving requirements of customers.
“Hence, we are positive that the acquisition of APSB and ICSB would complement our businesses well, and contribute positively to the group going forward.”
Barring any unforeseen circumstances, the acquisition of APSB and ICSB are expected to complete by the first quarter of 2019.