Mumbai, NFAPost: NSE Listed Spacenet Enterprises India Ltd has signed a Memorandum of Understanding (MoU) to acquire Chennai-based premier business analytics and generative AI firm Pathfinder Enterprise Solutions Pvt. Ltd.
This strategic alliance is set to ignite a revolution in the retail sector, positioning the merged entity at the forefront of the expanding AI landscape.
A primary focus of this agreement is the integration of RETAILGPT, Pathfinder’s proprietary generative AI platform. Bridging the gap between physical and digital retail, RETAILGPT offers an AI-enabled digital commerce interface that encompasses shopping centers, airports, and e-commerce platforms. By simplifying navigation and providing a personalised shopping experience, RETAILGPT is set to redefine retail business strategies and customer engagement.
Pathfinder’s RETAILGPT, powered by a Phygital eco-system, has already made significant strides in digitally enhancing physical stores. It fosters direct engagement with shoppers, thus enabling retailers to establish a prominent digital presence while mitigating excessive commissions from online marketplaces.
Spacenet, already recognised as one of the top 1000 Market Cap companies on NSE, will greatly benefit from this union. As a result of this merger, Spacenet shareholders will own shares in Pathfinder, empowering them to participate in an exponentially growing market and enjoy enhanced returns on investment.
The composite scheme of arrangement between Spacenet’s software division and Pathfinder will result in Pathfinder’s listing on the NSE, in accordance with applicable laws. This merger, pending regulatory and shareholder approval, presents a unique opportunity for Spacenet shareholders to participate in the generative AI market, a sector expected to experience explosive growth.
The AI market is set to expand twenty-fold by 2030 from its current value of $100 billion to an estimated $2 trillion. This surge underlines the significant potential for Spacenet shareholders post-merger, enabling them to stake their claim in a rapidly evolving landscape.
In addition to the MOU, Spacenet and Pathfinder are also contemplating a merger of their software divisions. This consolidation is designed to maximise shareholder value, building a stronger entity capable of capturing a larger market share in the burgeoning AI sector.
Spacenet Executive Director D V S Prakash Rao said the MoU signifies a momentous step forward in Spacenet’s journey.
“As we align with Pathfinder, we’re not just merging companies – we’re combining our passions, talents, and revolutionary technologies. We’re setting the stage for a new era of retail, one where AI doesn’t replace human touch, but enhances it,” said Spacenet Executive Director D V S Prakash Rao
Through RETAILGPT, Spacenet Executive Director D V S Prakash Rao said Spacenet aims to revolutionise the consumer experience, making it more personalized, interactive, and rewarding.
“Our shareholders stand to be key participants in this AI-driven retail evolution. This partnership truly marks the dawn of a thrilling chapter in Spacenet’s story,” said Spacenet Executive Director D V S Prakash Rao.
Pathfinder Managing Director Sadique Ahmed said Pathfinder’s mission has always been to harness the power of AI to transform and elevate the retail experience.
“Joining forces with Spacenet is a strategic step towards achieving this goal on a larger scale. This union allows us to reach new frontiers, integrating our state-of-the-art RETAILGPT platform across diverse markets,” said Pathfinder Managing Director Sadique Ahmed.
Pathfinder Managing Director Sadique Ahmed said the fusion of Pathfinder’s AI capabilities and Spacenet’s software expertise will enable retailers to connect more intuitively and productively with their consumers.
“We’re truly excited about this unique opportunity to reshape the retail industry and provide consumers with a Phygital shopping experience like never before,” said Mr. Sadique Ahmed, Managing Director at Pathfinder,” said Pathfinder Managing Director Sadique Ahmed.
Pathfinder has proven expertise in business analytics and generative AI, with their product RAPPO processing more than 1.4 Billion GMV in Dubai Duty-Free retail shops last year alone. RAPPO’s transformation of airports, shopping centers, and commercial hubs into AI-powered marketplaces will significantly complement Spacenet’s market reach.
At the helm of this promising alliance is Spacenet Executive Director D V S Prakash Rao and Pathfinder Managing Director Sadique Ahmed. Their combined leadership and vision assure the stakeholders of a fruitful partnership.
Together, Spacenet and Pathfinder are embarking on a journey to transform global retail. This bold endeavour signifies a remarkable stride towards the future – not just for the two companies, but for the entire AI and retail industry. Stay tuned as we prepare to launch this revolutionary retail paradigm in your country.
For Media inquiries:
