Bazaar Technologies Secures CCP Nod for Wemsol Acquisition
Deal News | Mar 08, 2025 | EIN
The Competition Commission of Pakistan (CCP) has approved the acquisition of Wemsol (Private) Limited by Bazaar Technologies (Private) Limited. This acquisition will see Bazaar Technologies or its subsidiary, Beta Holding Private Limited, take over 100% shareholding in Wemsol. Classified as a conglomerate merger, there are no overlaps in the business operations of the two companies, with Bazaar Technologies being in the e-commerce sector and Wemsol providing POS and EMI services. The CCP's clearance underscores that the merger is unlikely to lessen competition within Pakistan's relevant product market. The CCP's analysis aimed to prevent any anti-competitive practices and ensure a robust and competitive market environment. The acquisition is part of Bazaar Technologies' strategic expansion, maintaining compliance with the Competition Act, 2010.
Sectors
- E-Commerce
- Financial Services
Geography
- Pakistan – The deal involves Bazaar Technologies and Wemsol, both operating within Pakistan, and the CCP's approval pertains to the Pakistani market.
Industry
- E-Commerce – Bazaar Technologies operates in the e-commerce sector, which is relevant as it is the acquiring company in this transaction.
- Financial Services – Wemsol provides Electronic Money Institution (EMI) services and Point of Sale (POS) terminals, placing it in the financial services industry.
Financials
- 100 percent – Bazaar Technologies will acquire 100% shareholding in Wemsol.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bazaar Technologies (Private) Limited | Bidding Company | Company | An e-commerce company seeking to acquire Wemsol. |
| Wemsol (Private) Limited | Target Company | Company | A company providing Electronic Money Institution services and Point of Sale terminals. |
| Competition Commission of Pakistan (CCP) | Regulatory Authority | Government | A governmental entity responsible for granting merger clearance to prevent anti-competitive practices. |
| Beta Holding Private Limited (BHPL) | Subsidiary | Company | A subsidiary of Bazaar Technologies, potentially involved in executing the acquisition. |