Karooooo acquires SA logitech company Picup for $4.8M

Singapore headquartered Karooooo Ltd. – a leading global provider of a mobility SaaS platform maximizing automotive and workflow data by providing smart transportation real-time data analytics solutions to over 1.4 million connected vehicles – has announced the acquisition of 70.1% of Picup Technologies (Pty) Ltd. for over $4.8 million. Picup is uniquely positioned in the online delivery operational management software industry and operates as a system integration partner of Cartrack.

Picup is a South African-based logistics cloud-based disruptive technology company. Picup simplifies transport operations while mitigating logistics-associated risks. Cartrack’s customers can manage their own fleets and workflows, interact with specialist courier companies, creating a network of vetted crowd-sourced drivers enabling them to scale e-commerce business, general logistics needs, and deliveries.

Thus far, Picup has completed over 200,000 monthly deliveries particularly blue-chip enterprises such as Dischem and Pick n Pay. Karooooo Ltd. also owns 100% of Cartrack, a leading global provider of a mobility SaaS platform that will maximize the value of automotive and workflow data through the provision of real-time data analytical solutions on smart transportation.

The offering by Cartrack extends way beyond connected vehicles assisting enterprise customers when digitizing all mobility aspects of their businesses including administrations of their fleet, the management of fleet workers, operational logistics, and other last-mile deliveries.

CEO of Karooooo Zak Calisto, who is also Cartrack’s founder described the cloud platform as “a comprehensive mobility solution” addressing the needs of both our “existing and future enterprise customers.” Calisto further described Picup’s management team as “business savvy, customer-centric and has the start-up mindset that we treasure.” 

Picup’s founder and CEO Antonio Bruni expressed excitement in the company’s association with Karooooo given its proven track record in scaling businesses with “prudent financial discipline.”

Source: Karooooo

#Karooooo, the Nasdaq-listed mobility software company that owns South Africa’s @CartrackZA Holdings, has acquired digital logistics specialist @PicupSA Technologies in a R70 million deal.#Moneyweb #BusinessNewshttps://t.co/VphQjBS3ED

— Moneyweb News (@Moneyweb) September 14, 2021