The landmark deal will fuel Foodics’ ambitious expansion plans, as it looks to expand outside of the region.
Saudi Arabia's leading foodtech startup, Foodics, has announced the full acquisition of POSRocket, a Jordanian company that sits as the second largest restaurant cloud technology provider in the region.
Founded in 2014 by Khobar-based entrepreneurs, Ahmad Al-Zaini and Musab Al-Othmani, Foodics enables restaurants and F&B businesses to undertake a number of different tasks - including managing schedules, sales, inventory and timesheets - with an iPad-based POS system.
With the acquisition giving Foodics full ownership of POSRocket, it will allow the startup to consolidate a market that it has looked to dominate regionally, while taking market leadership positions in Egypt, Kuwait, Oman and, of course, Jordan.
The acquisition has been communicated by Foodics as its first, suggesting that the startup could look to this method of expansion moving forward, as it looks to expand beyond the region.