JAKARTA – PT Distribusi Voucher Nusantara Tbk (DIVA) has completed its acquisition of a 30% stake in point-of-sale (POS) startup Pawoon. However, the value of the investment was not disclosed.
In an official statement, DIVA said that the acquisition will prompt both companies to speed up their rapid business expansion in fields including technology development, product innovation, and sales and marketing.
“With DIVA’s rich product inventories, established infrastructure, nationwide market coverage, and business connections, we intend to lever the inherent competitive advantage of Pawoon, enabling broader and quicker expansion,” said DIVA Director Dian Kurniadi as quoted by DealStreet Asia, Monday (5/8).
“Pawoon’s advance platform and huge customer base will thus bolster the business strength of DIVA formidably.”
Source: IDN Financials | 6 August 2019