SOPA - Society Pass to acquire Indonesia's PT Inetindo Infocom

2023-07-07 09:08:27 ET

• NextGen Retail, the online retail arm of Society Pass ( NASDAQ: SOPA ), Southeast Asia’s next generation, data-driven, loyalty, fintech and e-commerce ecosystem will acquire 95% of PT Inetindo Info , a wholly subsidiary of Story-I Limited.
• Inetindo is an Indonesia-based Apple Premium Reseller and Authorised Education Partner as well as an electronic gaming retailer for several different gaming companies.
• It is an all-cash transaction valued at AUD 2.78M equal to ~$1.85M based on current exchange rates.
• The acquisition onboards ~$30M to Society Pass revenue base.
• The deal is anticipated to close by September 2023 and is expected to be accretive to SoPa’s non-GAAP earnings per share upon close.

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