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Thursday, 18 May 2023, 10:10 HKT/SGT
Fushi acquires Ascentis as part of its expansion into Southeast Asia

HONG KONG, May 18, 2023 - (ACN Newswire) - Fushi Technology (Shenzhen) Co., Ltd ("Fushi") is delighted to announce its acquisition of Ascentis Pte Ltd ("Ascentis"), a leading Customer Relationship Management ("CRM") and eCommerce SaaS solutions provider in Southeast Asia. With this acquisition, Fushi is Ascentis' controlling shareholder, and it marks a significant milestone in Fushi's globalization strategy.

Founded in 2003, Ascentis is headquartered in Singapore, with six offices in Southeast Asia. Ascentis specializes in CRM and eCommerce and has successfully implemented its SaaS solutions across 13 countries in the region. Its solutions focus on helping businesses create a seamless Online-to-Offline ("O2O") customer experience and journey that is both engaging and rewarding. Some of Ascentis' clients include Far East Organization, Lendlease, Singtel, Starbucks, and Sunway Group.

"Acquiring Ascentis will expedite Fushi's globalization strategy and expand its business into the growing Southeast Asia market," said Fushi. "Ascentis' O2O solutions, once integrated with Fushi's point of sale, Artificial Intelligence ("AI") lab, digital payment, and game center, will greatly enhance the group's offerings and ambitions to create smart Retail and F&B ecosystems for our customers. This becomes even more exciting when the ecosystem is integrated with the smart logistics and supply chain management solutions from Y3 Technologies, who is also a global strategic partner of Fushi."

This acquisition is a pivotal change for Ascentis, according to Bryan Tan, founder of Ascentis. "Fushi's technologies not only accelerate our plans to expand into more markets, but more importantly, it now completes our vision to offer a truly integrated, smart, and automated platform with capabilities in cashiering, digital payment, rewards, customer engagement, and smart logistics."

Fushi is dedicated to providing merchants with end-to-end SaaS solutions and aims to become the largest one-stop digital services platform for merchants in China and Southeast Asia. Since its establishment in 2016, Fushi Technology's 500-strong R&D team has been deepening and expanding its SaaS services in retail and F&B with products such as POS, QR code menu ordering, mini-programs, artificial intelligence, digital payment, and game center.

Topic: Press release summary Sectors: Cards & Payments, Cloud & Enterprise
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