e-commerce firm Shopmatic merges with retail manager Octopus

The combined entity will reportedly acquire 500,000 customers, generate $10m in revenue in 2019.

e-commerce solutions provider Shopmatic has merged with retail management solutions firm Octopus to provide a holistic offline and online digital ecosystem for businesses in managing their customers, reducing operational costs and increasing revenue, an announcement revealed.

Whilst Octopus offers cloud-based retail management solutions to brick and mortar businesses, from small boutiques to large retail chains with several hundred stores, Shopmatic offers an e-commerce portal allowing businesses to sell their products and services online.

“This collaboration will also see both firms expand into newer markets and leverage on each other’s geographical strengths, Shopmatic with their presence in India, Middle East, Singapore and Hong Kong and Octopus with their presence in China, Malaysia, Philippines, Sri Lanka, Taiwan and the US,” the firms said in a joint statement.

The combined entity will reportedly acquire 500,000 customers, generate more than $2b in GMV and achieve $10m in revenue in 2019.