Karooooo Ltd., based in Singapore, has announced the acquisition of 70.1 percent of Picup Technologies (Pty) Ltd. for over $4.8 million.
Picup Technologies (Pty) Ltd. is a leading global provider of a mobility SaaS platform that maximizes automotive and workflow data by providing smart transportation real-time data analytics solutions to over 1.4 million connected vehicles.
Picup is a system integration partner of Cartrack and has a unique position in the online delivery operational management software sector.
Picup is a revolutionary logistics cloud-based technology business established in South Africa. Picup streamlines transportation operations while reducing logistical hazards. Customers of Cartrack can manage their own fleets and workflows, interface with specialist courier businesses, and build a network of vetted crowd-sourced drivers to develop their e-commerce business, general logistics, and delivery needs.
Picup has performed over 200,000 monthly deliveries to date, primarily to blue-chip companies like Dischem and Pick n Pay. Karooooo Ltd. also owns 100% of Cartrack, a major global provider of a mobility SaaS platform that will maximize the value of automotive and workflow data by providing real-time data analytics on smart transportation.
Cartrack’s service goes far beyond linked automobiles, supporting enterprise customers in digitizing all elements of their organizations’ mobility, including fleet management, fleet worker management, operational logistics, and other last-mile delivery.
The cloud platform, according to Karooooo CEO and Cartrack creator Zak Calisto, is “a comprehensive mobility solution” that addresses the demands of both “current and potential enterprise customers.” Picup’s management team, according to Calisto, is “business competent, customer-centric, and has the start-up ethos that we cherish.”
Picup’s founder and CEO, Antonio Bruni, expressed enthusiasm for the company’s partnership with Karooooo, citing the latter’s track record of developing firms while maintaining “prudent financial discipline.”