Web Bytes Strengthens ASEAN Reach with Acquisition of Cambodian Reseller, Eyes 25% Growth
By Digital News Asia March 3, 2022
- Strengthen reach in region as cloud-based retail management provider
- Acquisition expected to contribute to Web Bytes’ revenue growth of 25%
Homegrown retail management software company, Web Bytes Sdn Bhd Monday that it completed the acquisition of its Cambodian reseller, Iter Plus Co, Ltd. The acquisition is expected to boost Web Bytes presence in the ASEAN region with its core cloud-based point-of-sale (POS) offering, Xilnex and contribute to Web Bytes’ 2022 target revenue growth of 25%.
Ooi Boon Sheng (pix), CEO of Web Bytes said, “The acquisition marks a new milestone in our growth trajectory as it is our first fully owned overseas branch. We are confident we will be able to continue accelerating our ASEAN expansion with our physical presence now in Cambodia, Vietnam, Thailand and Singapore as well as our established offerings in markets like Australia. We are also excited to welcome into our family, Iter Plus’ clients and executive team, to help take Xilnex to the next level.”
“With the acquisition, we are now better positioned to implement our proven business strategies in Cambodia and to further enhance our capabilities to offer a wide range of retail solutions to the enterprise retail market here. The team in Cambodia will also now have direct access to all our know-how and products and we will be localising our solutions to adapt to the Cambodian market,” explained Tan Wei Kit (left), Business Development Director of Web Bytes.
Web Bytes began growing its ASEAN footprint by offering Xilnex through reseller companies in Cambodia and Singapore in 2015. The company subsequently established a presence in Vietnam and Thailand through joint ventures. In 2017, it also began expanding its retail solutions to include mobile POS, self-ordering kiosks, mobile loyalty applications as well as sales, inventory and warehousing solutions. Xilnex POS solutions are now used in all international airports in Malaysia and Xilnex’ clients include food and beverage brands such as Tealive, Marrybrown, La Juceria and Texas Fried Chicken as well as retailers like Ms. Read, Hai-O, Mydin and Alpro Pharmacy.
The company has also recently added to its solution stack, iPad-based POS (iOS POS), which is catered towards F&B kiosks, micro-SMEs and mid-sized retailers with a handful of outlets. This new solution is part of Web Bytes’ strategy to have solutions relevant to all segments of the retail market, from large enterprise and big retail chains to micro-sized retailers, to further strengthen its revenue stream.