Sweden’s White Pearl Technology Group AB (WPTG) said on 16 February it has signed a letter of intent to acquire Saltycustoms, a corporate merchandise, design and digital fulfilment company with operations in Malaysia and Singapore.
WPTG said the proposed deal values Saltycustoms at 500,000$, with 300,000$ to be paid in cash and 200,000$ in WPTG shares. The share payments would be made in three instalments at closing, after 12 months and after 24 months, subject to targets being met, and the transaction is subject to due diligence and final agreements.
According to WPTG, Saltycustoms offers end-to-end corporate merchandise services, including design, production, e-store solutions and global fulfilment. WPTG said Saltycustoms has served multinational customers and has supported brands including Amazon Web Services and Citibank.
WPTG said the acquisition would strengthen its digital commerce and digital transformation offering, expand its footprint in Southeast Asia, and provide a platform for further regional growth. CEO Marco Marangoni said the company expects cross-selling opportunities between Saltycustoms’ client base and WPTG’s wider IT, cloud and digital services portfolio.
WPTG said it is listed on Nasdaq First North in Stockholm and OTCQX in the United States, and stated it has operations in more than 20 countries with a team of around 950 experts.
