Cuscapi Bhd is in advanced talks to acquire a China-based technology solutions provider which, if successful, will see the group double its revenue contribution from the country to 50 percent of total revenue by end-2015, from 20-25 percent last year.
"It (the acquisition talks) is still in the process. But this is very much a (faster) strategy for us to grow into a much larger entity in China than relying on organic growth alone," Cuscapi Chief Executive Officer and major shareholder Her Chor Siong told The Edge Financial Daily.
He expects the deal to be concluded within the next two months.
"We are looking at providing our food and beverage (F&B) customers with a complete solution. Customer loyalty management (which the potential China partner is strong in) is the area that we are looking at to complete our offerings to our F&B customers," he said.
Cuscapi teamed up with WeChat, a popular mobile text and voice messaging communication service in China, to tap into the mobile payments space there three months ago.-The Edge Financial Daily
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