Foodics, the biggest GCC restaurant-tech firm located in Saudi Arabia, has completed its first acquisition, acquiring complete ownership of POSRocket, the second largest restaurant cloud technology supplier in the Middle East and North Africa.
Foodics is Saudi Arabia’s largest restaurant-tech firm, with a 360° SaaS Ecosystem that propels the F&B industry forward by enabling end-to-end digitization. Its goal is to create a complete restaurant management ecosystem that allows owners to run their operations smoothly while expanding their business.
This historic acquisition is a strategic step for both firms, allowing Foodics to consolidate the market and gain market leadership in Egypt, Kuwait, Oman, and Jordan, in addition to its strong position in the rest of the GCC. This first acquisition also paves the way for Foodics’ future M&A efforts and international expansion.
POSRocket, founded in Jordan, provides cloud-based point-of-sale software for restaurants and businesses, allowing owners to control operations in real-time from afar. POSRocket merchants will be able to use Foodics’ ecosystem to manage payments, supply, and capital lending infrastructure due to the transaction.
“We are delighted to welcome the POSRocket astronaut team, its clients, and partners to the Foodics family and look forward to growing together for the benefit of the wider ecosystem. Our acquisition of the fast-growing and second-largest restaurant Cloud technology provider in the region is very strategic as it naturally establishes our position as the dominant player across MENA and beyond.”Ahmad Al-Zaini, Foodics CEO and Co-founder