Acquires Protocol Solutions to grow POS sales in the unorganised retail sector
— POSIFLEX Technologies Inc., a professional POS (Point of Sales) hardware solution provider worldwide, today announced the acquisition of a majority stake in one of their leading distributors in India, Protocol Solutions a bangalore based company. With this, Protocol Solutions will now be called POSIFLEX India, thereby making a direct presence in India. POSIFLEX products are widely used by the largest of retail outlets in India, making them the second largest in India next to IBM according to IDC report.
This strategic move will help shorten the lead time of delivery and provide satisfactory service to customers, to increase brand awareness and expand market share. On the strength of acquisition, POSIFLEX will not only acquire the existing channel resource, but also give access to the Indian software development industry to bundle with hardware of POSIFLEX. It is expected to offer low TCO (Total Cost of Ownership) solution from India to global channels eventually.
On this occasion Mr. Owen Chen, CEO, POSIFLEX Technology Inc., said, “We saw great potential in the Indian market and decided to enter India by acquiring a majority stake in Protocol Solutions. We were happy with our relationship with Protocol and impressed with their track record. They understand our products well and have played a vital role in creating a demand for our products in India. So when we thought of having a direct presence in India, Protocol was undoubtedly our choice. We will be investing US$ 10 million over the next 3-5 years, which will include setting up of R&D team in India to deliver customised solutions, strengthening our marketing and channel partners as well as an option of starting an assembly line.”
“There is tremendous potential in the Indian retail market. With hundreds of malls that are projected to open in the coming years, the sector is expected to invest around US$ 500 million in retail technology service solutions in the current financial year. This could go further up to US$ 1.26 billion in the next four to five years. So it was an important strategic milestone for us to have a direct presence in India,” added Mr. Chen
Mr. Dinesh, Director, Protocol Solutions, said, “The organised retail sector accounts for only 5 per cent of the Indian retail market, which leaves us with the big chunk of untapped unorganised retail market. As POSIFLEX India, we intend to enter the huge unorganised retail market through channel partners across India.”
Mr. Baskar, Director, Protocol Solutions, said, “We have been working as POSIFLEX distributors for over eight years and today their solutions are widely used by most of the large retails chains in India. We have worked with POSIFLEX and have been instrumental in making the product second largest in India with over 20 per cent market share. As we have developed great success stories in the organised retail segment, POSIFLEX Technology will be leveraging these successful cases in other countries.”
POSIFLEX POS solutions are used in multiple market segments such as, hospitality, retail, entertainment, logistics, manufacturing, banking, information services etc. Protocol has successfully deployed POSIFLEX products in both Industrial Automation & Retail Automation. Their clientele includes, Ford India, IFB, Hindustan Motors, Ashok Leyland, Schneider Electric, Shopper Stop, KFC, HyperCity, SPAR hypermarket, Fresh@, Subway, Costa Coffee, Café Coffee Day, Food World, Royal Orchid, Arvind Brands, Peter England, Lifestyle to name a few.
Source: Press release distribution via India PRwire
Notes to Editor
Posiflex Technology Inc. was founded in 1984 as a PC and PC peripherals design and manufacturing company, transferred to POS industry in 1991, who has now evolved and grown to become a world leader in design and manufacturing of POSIFLEX POS terminals and POS related peripherals. POSIFLEX designs and manufactures all POSIFLEX brand products in its own ISO 9001/9002/14001/IECQ QC 080000 certified laboratory and factories in Taiwan. The products have been honored by many national and international awards and with over 30 patents worldwide, covering secure, integrative, flexible and easy-to-use features. For further information please visit: http://www.posiflex.com/english/01_products/00_overview.php
About Protocol Solutions
PROTOCOL SOLUTIONS PVT. LTD., is incorporated in Bangalore and is one of the Leading RETAIL & AUTO ID Solution provider in India. Protocol team is dedicated to provide TOTAL SOLUTION and achieve Customer Satisfaction through our personalized service. Having started its operation in India on April 1997, Protocol now extends its arms across India setting up branch office in Chennai, Hyderabad, Mumbai, New Delhi and Kolkata. Protocol began its operation in India with AUTO ID products and slowly expanding in the ever growing Retail automation market in view of offering complete solution under one roof. Our advantage to the customer is that our technical expertise in providing the most complex solution at ease due to our vast experienced technical team.
For more information, please contact:
- Gautam Mahtani
- Branch Head
- (L) +918022112311, (M) +919886024977