In brief: Shopmatic snaps up majority stake in retail management firm Octopus

• Ecommerce enabler Shopmatic has picked up a 51 percent stake in retail point-of-sale (PoS) device provider Octopus.
• With the deal, Shopmatic plans to offer PoS services to its existing customers across different verticals such as retail, food and beverage, as well as other ecommerce-focused sectors in Asia Pacific.
• Octopus offers cloud-based retail management software, omnichannel sales, and customer engagement solutions to small and medium-sized enterprises (SMEs). It focuses on physical stores, from small boutiques to large retail chains.
• Shopmatic helps SMEs and individual sellers to sell products online by creating digital stores and offering payment gateway and logistics solutions, among others.

Source: Livemint