Society Pass Unit NextGen Retail Enters Indonesian Market Via Acquisition Of Apple Premium Reseller Inetindo
Portfolio Pulse from Nabaparna Bhattacharya
Society Pass Incorporated's unit NextGen Retail Inc has agreed to acquire 95% of Indonesia-based PT Inetindo Info, a subsidiary of Story-I Limited, for approximately $1.85 million. Inetindo is an Apple Inc. Premium Reseller and an electronic gaming retailer. The deal is expected to close by September 2023 and is anticipated to be accretive to SoPa's non-GAAP earnings per share. Following the news, SOPA shares rose by 9.3%.
July 07, 2023 | 3:28 pm
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POSITIVE IMPACT
Apple Inc. may see indirect benefits from the acquisition of its Premium Reseller Inetindo by Society Pass's unit NextGen Retail, potentially leading to increased sales in the Indonesian market.
While Apple Inc. is not directly involved in the acquisition, it may see indirect benefits as Inetindo, an Apple Premium Reseller, is acquired by Society Pass's unit NextGen Retail. This could potentially lead to increased sales of Apple products in the Indonesian market, which could have a positive impact on Apple's stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Society Pass's acquisition of Inetindo is expected to be accretive to its earnings, which could positively impact its stock price. The news has already led to a 9.3% increase in SOPA shares.
The acquisition of Inetindo by Society Pass's unit NextGen Retail is a significant development for the company. It not only expands the company's footprint in the retail sector but also is expected to be accretive to its earnings. This positive financial impact is likely to be reflected in the company's stock price, which has already seen a boost following the announcement of the deal.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100