Bazaar Technologies Acquires Wemsol: CCP Approval Granted

Deal News | Mar 07, 2025 | EIN

The Competition Commission of Pakistan (CCP) has granted approval to Bazaar Technologies (Private) Limited for the acquisition of a 100% stake in Wemsol (Private) Limited. Bazaar Technologies operates within the e-commerce space, while Wemsol offers Point of Sale (POS) and Electronic Money Institution (EMI) services through its fintech platform, Keenu. Keenu provides a digital wallet app for a range of payment services. The merger clearance application was in compliance with the Competition Act, 2010, and was filed in anticipation of a conglomerate merger, given there were no significant overlaps between the business activities of the two parties. The transaction will primarily influence the Electronic Money Institution (EMI) and POS markets in Pakistan. Due to their distinct operations, the merger is not anticipated to substantially reduce market competition, aligning with the CCP's mandate to prevent excessive market concentration.

Sectors

E-commerce
Financial Technology (Fintech)
Payment Processing

Geography

Pakistan – The entire transaction and its implications are specific to the Pakistani market as defined by the CCP.

Industry

E-commerce – Bazaar Technologies operates in the e-commerce sector, expanding its services through acquisitions.
Financial Technology (Fintech) – Wemsol operates in the fintech space, providing digital payment services through its Keenu platform.
Payment Processing – The acquisition involves POS and EMI services, relevant to payment processing industries.

Financials

100% – Bazaar Technologies is acquiring 100% shareholding in Wemsol.

Participants

Name	Role	Type	Description
Bazaar Technologies (Private) Limited	Bidding Company	Company	An e-commerce company acquiring Wemsol to expand its service offerings.
Wemsol (Private) Limited	Target Company	Company	Operates Keenu, a Pakistani fintech platform that offers digital payment solutions.
Keenu	Other Company	Company	A digital payment service provider operating under Wemsol.
Competition Commission of Pakistan (CCP)	Government	Government	The regulatory body approving the acquisition, ensuring compliance with competition laws.
Beta Holding Private Limited (BHPL)	Potential Executing Subsidiary	Company	Subsidiary of Bazaar Technologies through which the acquisition may be executed.