BRIEF: Synagistics eyes major Chinese SaaS acquisition

Southeast Asian e-commerce company Synagistics Ltd. (2562.HK) announced on Monday that it has agreed to acquire 80% or more of a major Chinese software as a service (SaaS) platform, with final consideration still under negotiation.

According to the announcement, the target is a leading SaaS provider in China, offering omnichannel digital commerce, smart retail, and supply chain solutions to enterprises and businesses. The company holds a significant market share in China’s SaaS industry, serving over 30,000 enterprise clients. Its platform processes more than 4 billion orders annually, with a gross merchandise volume (GMV) exceeding 500 billion yuan（$69.59 billion）.

Synagistics said the proposed acquisition is expected to enhance its business scale and operational performance, laying a solid foundation for accelerating enterprise AI applications and innovation.

Synagistics’stock opened 8.2% higher on Monday and closed up 3.61% at HK$14.92 by the midday break.

By Lee Shih Ta

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