Foodics Acquires POSRocket to Boost Payment, Supply Management

Saudi Arabia restaurant tech company Foodics on Monday (Jan. 10) acquired MENA-based restaurant cloud technology platform POSRocket that will allow Foodics to consolidate the market and take a leadership position in Egypt, Kuwait, Oman and Jordan.

The deal also sets Foodics up to more M&A activity and international expansion, according to a Monday (Jan. 10) press release.

“The region has recently witnessed a significant acceleration in the digitisation of operations in both the retail and F&B sectors due to the pandemic,” said Ahmad Al-Zaini, Foodics CEO and co-founder, in the joint announcement.

“As a result, businesses have had to augment their online presence, in order to follow their customers footprints and provide them with an optimal customer experience,” he said. “We chose POSRocket as they were able to fully leverage this trend, having gained the trust of an exponential number of merchants for their services, which will be further enhanced with this strategic acquisition.”

POSRocket offers cloud-based point-of-sale software for restaurants and retailers, which allows them to manage operations remotely in real time. POSRocket customers will benefit from Foodics’ ecosystem in managing payments, supplies and capital lending infrastructure.

“Foodics is a natural fit for POSRocket, as both brands are driven by helping business owners grow their operations,” said Zeid Husban, POSRocket Chief Executive Astronaut and founder, in the joint announcement.

“Bringing our talented teams together is a strategic move that yields us a unique competitive advantage,” he said. “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.”

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