{"id":768327,"date":"2023-07-07T08:34:23","date_gmt":"2023-07-07T12:34:23","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\/"},"modified":"2023-07-07T08:34:23","modified_gmt":"2023-07-07T12:34:23","slug":"society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\/","title":{"rendered":"Society Pass Inc (Nasdaq: SOPA) Subsidiary, NextGen Retail Inc, to Acquire Indonesia\u2019s PT Inetindo Infocom to Create an Online and Offline Electronics and Gaming Retailer in the World\u2019s 4th Most Populous Economy"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        \n      <\/p>\n<p align=\"center\">\n        <b>Acquisition Onboards Approximately US$30 million to Society Pass Revenue Base<\/b>\n      <\/p>\n<\/p>\n<ul>\n<li>NextGen Retail Inc (formerly known as Leflair Inc) ventures out of Vietnam and enters the Indonesian market for the first time; creates online and offline retailer in SEA<\/li>\n<\/ul>\n<ul>\n<li>PT Inetindo Infocom acquisition onboards approximately US$30 million of annual revenues to Society Pass Inc. as well as substantial customer base for Society Pass\u2019s Loyalty App<\/li>\n<\/ul>\n<p \/>\n<p>SINGAPORE, July  07, 2023  (GLOBE NEWSWIRE) &#8212; via <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=U6pb6oVPuO9oMXoTV58N59uxrroXG1MYaumL2GkfoLuUBzyWXJ64sgguvZhnJY8uk2hT6mB_-JTcMhtM_AM3uOi1tWQyhFLr73qcViyuXAo=\" rel=\"nofollow noopener\" target=\"_blank\"><u>NewMediaWire<\/u><\/a> \u2013 <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=GB0wlv_8TzLYaUPN4qR4OHcr0b4asGBY6Y4GblznG1QYelETQaMS1XgRQtbQyIkryV5lrh7RxH0iyz3sXUoZ-AFso6aHO4hMDkuago7ZXrs=\" rel=\"nofollow noopener\" target=\"_blank\"><b><u>NextGen Retail Inc<\/u><\/b><\/a> (\u201cNextGen Retail\u201d), the online retail arm of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ASGrIygnQ9AbFPx_Fxn5IaYCtFrvpK601c7yaer3WzSqx1lETAdoImaFHcRQ61A7Um6Ilfp9z3dv8-tuehiuc4PKwmdnfHKJLH1Gvz_RyGY=\" rel=\"nofollow noopener\" target=\"_blank\"><b><u>Society Pass Incorporated<\/u><\/b><\/a> (&#8220;SoPa\u201d) (<b>Nasdaq: SOPA<\/b>), Southeast Asia\u2019s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has entered into an agreement to acquire 95% of PT Inetindo Info (\u201cInetindo\u201d), a wholly subsidiary of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nhrGmlkMKQD-JhlJAXmQqMIKYOKI24MXfUYBQJuVNVHZC8D6kEiOVf3hXkNHfIAun25L4MWy6iTR1L-kmjBlMA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>Story-I Limited<\/u><\/a> (\u201cStory-I\u201d). Inetindo is a leading Indonesia-based Apple Premium Reseller and Authorised Education Partner as well as an electronic gaming retailer for several different gaming companies. <\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=cPat0EsuYOhwtvjFFkDuiBWO-qxteesmHQQi61EP9ldFDyBBk5viTdnUMQE0Y19tVN3sk9ZOgSoxKp0gV3k_S6YddWJl_DxQUJZjTtncnezapj9l11JZKxBrsbpVH9CKZl1gGsXbLl1Z6kcaztTFGdT6YuhOnkFqxrQIeXzfdVdckvwRG3R-qq2PZXBCmFP-\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n          <b><br \/>\n            <u>Click Here<\/u><br \/>\n          <\/b><br \/>\n        <\/a> (on Securities and Exchange Commission website) to view Form 8-K filing.<\/p>\n<p align=\"justify\">Subject to Australian Stock Exchange (\u201cASX\u201d) and Story-I shareholder approvals, anticipated by September 2023, NextGen Retail, formerly known as Leflair Inc, will complete its first acquisition outside of Vietnam in the large and fast growing Indonesian market. Through cross-selling synergies, the Inetindo acquisition will accelerate the growth of SoPa\u2019s other Indonesian businesses, including <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mh_j3IrNTCjpDs82zgpTaG2uJ_xjL5VThVdBUerk5C70cacLluiB7jARPVY4jBh4AOucfj3Td87DojhtI0POhA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>NusaTrip Inc<\/u><\/a> and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6OncmqViz-tzdO5ItKWNwcck0qfsZIWXNHOaZCRpSH--wHHmgZOl-QjAQl1UHEonAGNxVBCjlTfUBnVZt4JnIrgaz6XAPRLiAuuSgrtHqqo=\" rel=\"nofollow noopener\" target=\"_blank\"><u>Thoughtful Media Inc<\/u><\/a>.<\/p>\n<p align=\"justify\">NextGen Retail acquires Inetindo with its physical and intangible assets in an all-cash transaction valued at AUD 2.78 million equal to approximately US$1.85 million based on current exchange rates. Operating in Indonesia since 2010, Inetindo employs approximately 300 employees and operates 26 \u201cStory-I\u201d branded Apple stores in 9 cities across Indonesia. As an Apple Authorised Education Partner and Apple Authorised Service Provider, respectively, Inetindo sells Apple devices and solutions to leading international schools and tertiary institutions and repairs Apple products at its service centres.<\/p>\n<p align=\"justify\">With the easing of COVID restrictions in March 2022, Indonesia\u2019s fast growing middle class and soaring digital adoption have fueled a rebound in online and offline retail traffic back to pre-pandemic levels. Inetindo\u2019s financial performance has responded accordingly. Unaudited 1H FY23 (July to December 2022) revenues totaled AUD 20.9 million (US$13.9 million) compared to 1H FY22 revenues of AUD16.3 million, representing an increase of 28% year-on-year. Similarly, unaudited 1H FY23 gross profit of AUD 2.9 millon (US$1.9 million) grew 16% from 1H FY22 gross profit of AUD 2.5 million (US$1.6 million). As of 31 December 2022, Story-I\u2019s assets totaled AUD 25.44 million (US$16.7 million).<\/p>\n<p align=\"justify\">Overall FY 2022 (July 2021 to June 2022) revenues and gross profit totaled AUD 42.4 million and AUD 6.0 million, representing increases of 1.2% and 0.7% over the prior corresponding period, respectively.<\/p>\n<p align=\"justify\">Michael Chan, Founder and Executive Director of Story-I, comments, \u201cSociety Pass\u2019s acquisition of Inetindo and the Story-I brand creates a win-win-win transaction for all parties involved. First, our shareholders win as the acquisition consideration represents a 15% premium to Story-I\u2019s market capitalisation over the past 45 trading days and allows Story-I to continue under a new name. Second, Inetindo\u2019s partners and employees win as Society Pass is well capitalised to quickly expand Inetindo\u2019s retailing and maintenance businesses throughout Indonesia. I wish Society Pass and NextGen Retail the best of luck as they take over a strong brand in Indonesia. Although we exit the Indonesia electronics retailing business, we are excited about both Story-I\u2019s and Inetindo\u2019s future prospects.\u201d<\/p>\n<p align=\"justify\">The Indonesian economy is the largest in SEA and the 16th largest in the world with a 2023 nominal gross domestic product of <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=VezPSUyl02epBwWflrCC8BTOn4k-Zwu1ZhPIp5imGd4j9Ih15SESkjfUNUaivDItrJencBKqYu1wy0Bs8cBw1zCwEeuNu2e84NXisTntloQvblhaeavoO06u2BrAXolK1pJm1xcmrVqM3n-6ZYhQeeI9iMKOC2h-yqZBR8U6-oys2Mx5FfQzSWGOCQDfFsLqV7d1ryKnAoSVt1-U5Lr3EBOXOjuq2HNkp1W_54gdYExB5BuWCFKRaiClwEdxgY-J4sCyGp7MvfsTns_R5MyoBFahSpITuFYPJRQCWwQzs-gPlZhjm3XhUnhV31ZfCPR8\" rel=\"nofollow noopener\" target=\"_blank\"><u>US$1.39 trillon<\/u><\/a>. <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=e2VLHUFvXODjhl4GZcQ3E5SuC0FJMD7IO_bEzhDkQMUJjnZnbW1jyuF394lHZQ075bGdZv6B-205M61DWjC0dUeZMfI0O4WJeGUE_TON3ri_Z8b6KtzKLQLg4z3Laqi_\" rel=\"nofollow noopener\" target=\"_blank\"><u>OECD<\/u><\/a> forecasts Indonesia\u2019s real GDP growth to be 4.7% in 2023 and 5.1% in 2024. <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ZXm6KsToKBB6hv4hBKvZY7GBLgvwV5hKceBM2OxzioeTPergcZ-ixFDKxxVULBGzGRk13hl4OyFVnsrANSA5HQRHBdnAT3f5mMFTzthZt98mOJL6A_AhVCAaNA2mtyKP\" rel=\"nofollow noopener\" target=\"_blank\"><u>EcommerceDB<\/u><\/a> estimates the Indonesian Electronics &amp; Media eCommerce market to reach US$13.8 billion by 2023 and to increase to US$18.0 billion by 2027, reflecting a compound annual growth rate of 6.9%.<\/p>\n<p align=\"justify\">Loic Gautier, CEO of NextGen Retail Inc, explains the acquisition\u2019s rationale, \u201cThe Story-I acquisition is the natural evolution of our Leflair Vietnam business. As we venture out of Vietnam and into the rest of SEA, we will transform how customers access the world\u2019s most desirable brands through our integrated omni-channel, online-to-offline retail platform. NextGen Retail\u2019s mission is the following:<\/p>\n<\/p>\n<ul>\n<li>provide brands with a one-stop distribution solution to access consumers across SEA;<\/li>\n<li>integrate all sales channels for maximum brand awareness and sales performance;<\/li>\n<li>provide Asian consumers with access to the world\u2019s best brands;<\/li>\n<li>serve our customers anywhere and provide them with personalized shopping experience;<\/li>\n<li>deliver best-in-class customer experience.\u201d<\/li>\n<\/ul>\n<p \/>\n<p align=\"justify\">The acquisition is subject to customary closing conditions and completion of ASX regulatory review and Story-I\u2019s shareholder approvals. The deal is anticipated to close by September 2023 and is expected to be accretive to SoPa\u2019s non-GAAP earnings per share upon close.<\/p>\n<p align=\"justify\">\n        <b>About Society Pass Inc.<\/b><br \/>\n        <br \/>Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Ho Chi Minh City, Jakarta, Manila, and Singapore, <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ASGrIygnQ9AbFPx_Fxn5IaYCtFrvpK601c7yaer3WzTWjWvtkzYNO0fm-vp1_fwJkE3tjQMDk78vP-j1ogJ_rzx_PmksPToxRsESY6EQj84=\" rel=\"nofollow noopener\" target=\"_blank\"><b><u>Society Pass Incorporated<\/u><\/b><\/a> (<b>Nasdaq: SOPA<\/b>) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&amp;B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants\/brands across multiple product and service categories throughout SEA.<\/p>\n<p align=\"justify\">Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021.<\/p>\n<p align=\"justify\">SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa\u2019s data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 650,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.<\/p>\n<p align=\"justify\">Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=6OncmqViz-tzdO5ItKWNwV6x0pwLKcSl4yhDKrAWJ3dZk-Z9eNk9slOK-xEbdwI2DGrFluPF7qtwHtNZ8zJIBpkqFPTbY9jB1Id3DQZ8vAM=\" rel=\"nofollow noopener\" target=\"_blank\"><u>Thoughtful Media Group<\/u><\/a>, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=mh_j3IrNTCjpDs82zgpTaHxNrAIOEhC0R7flssRVAsMUlHbBWMeYi4vBA284xSiEhL_Oa3VdzND-pThh-N45Jw==\" rel=\"nofollow noopener\" target=\"_blank\"><u>NusaTrip<\/u><\/a>, a leading Indonesia-based Online Travel Agency; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=BT0w6n9KVc-J5bRJj2RiXlLZFXPRMc2d5eW9XTEjobqAi5QaPVexKGBd84qEmfqP41s0fI-ggFCdEGe_9j1nnw==\" rel=\"nofollow noopener\" target=\"_blank\"><u>VLeisure<\/u><\/a>, Vietnam\u2019s leading provider of hotel management and payment solutions; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ebX75QjC6onOm_TIRW-SxBmjVta-LTWnkczZYlS-b_0udUJqWtFngyX2e4Rhaan4gf5m5moWzbAAN0tDnBuGtA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>Gorilla G<\/u><\/a><u>lobal<\/u>, a Singapore-based, mobile network operator; <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nuOP_S_EMjOysam0uZ1bdAP8At2NI0wbL2ISXQwNv4D9tjt7RSrgzSbt_vHlHhT_uuRVyxk53ty4RutEq7EMlA==\" rel=\"nofollow noopener\" target=\"_blank\"><u>Leflair.com<\/u><\/a>, Vietnam\u2019s leading lifestyle e-commerce platform; and <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=zv8i6Hf4onkwAPUThqhBHt1WfWQ6WVpCaczRSPcgnuupScRzrOOi9i-7MxFnxqkvBZ4ngCs5TdMkAPc2EVjnfg==\" rel=\"nofollow noopener\" target=\"_blank\"><u>Pushkart.ph<\/u><\/a>, a popular grocery delivery company in Philippines.<\/p>\n<p align=\"justify\">For more information on Society Pass, please visit:<\/p>\n<p align=\"justify\">Website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aMD8r1Flk_DlkbBsMlyFcmp-1fR3DHcrzXd-_SuerJNdFMAwLKLUMUDhnHoP2IRgq19AeqIysQ-kuUfq1N1j-d-XHWGZCs1Q5Hi5M_-jIWah9QExakoSwhdfK1G-9sbz\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/www.thesocietypass.com<\/u><\/a> or<\/p>\n<p align=\"justify\">LinkedIn at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aMD8r1Flk_DlkbBsMlyFcnSRFUKxjv9nHXrWj9yGWn5Zm4DbfhXBhPI1rh1yWeadgTAPamuYIecmoamivpVIpZFXyz5NgJx2e9Wz5qxNka9tYORT9SsF0FBlw4QWMGHkcylqhJu6kRPWUQEPuIFxGIVZt43IZJIs4S5H6kF40nk=\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/www.linkedin.com\/company\/societypass<\/u><\/a>\u00a0 or<\/p>\n<p align=\"justify\">Facebook at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aMD8r1Flk_DlkbBsMlyFcsouVzVngBKcOOkWJpMsdd2EmpropjLQqwhtWSLGFq4R9_E5OuhA4_BvSME7PD_ZjOurKK2VNGQ4YDMw00WWNbDi6x8Rxypc1LPis5PtvsU5LaPv_VntaiQ6H0MBEZq9Lg==\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/www.facebook.com\/thesocietypass<\/u><\/a>\u00a0 or<\/p>\n<p align=\"justify\">Twitter at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aMD8r1Flk_DlkbBsMlyFcnJfsk127xdfONr6c101tJZFcWvO0slnmr8v9y9STpetMdGoP1lXgDJErJNBoWwOXN2JB8toZ77MXF8qVzuLK9MLc1yGbwQ1wklxzdr2O4ir\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/twitter.com\/society_pass<\/u><\/a> or<\/p>\n<p align=\"justify\">Instagram at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=aMD8r1Flk_DlkbBsMlyFck8nFI_FhbAUlc__iWCWgSdAkkShD_3xoCZjowUbWnIkjhInvlLL3nkyK2Scm4dkic8tc3Cq6O4vrZKl_YNHY7sfEHw8LJianwUJMnuBp_wpIYRrzEySjXy-7BVJ02N1xg==\" rel=\"nofollow noopener\" target=\"_blank\"><u>https:\/\/www.instagram.com\/societypass\/<\/u><\/a>.<\/p>\n<p align=\"justify\">\n        <b>Cautionary Note Concerning Forward-Looking Statements<\/b><br \/>\n        <br \/>This press release may include \u201cforward-looking statements,\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as \u201canticipate\u201d, \u201cbelieve\u201d, \u201cestimate\u201d, \u201cexpect\u201d, \u201cintend\u201d and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company\u2019s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company\u2019s filings with the SEC as well as anticipated sales growth in Indonesia and the growth of the Indonesian economy. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company\u2019s registration statement and prospectus relating to the Company\u2019s initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.<\/p>\n<p align=\"justify\">\n        <b>Media Contacts:<\/b>\n      <\/p>\n<p>Rokas Sidlauskas<br \/>Chief Marketing Officer<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gxdUIm-5ozSYCRA1hlNXbND0ksB6NavSGxZ9aQbRxRU8esw5LzEk34ISM0Yufb_IR08ovH_ELPv0SGEi1RFZvwaPN8zAux-j3uZa0HodX5Xyi00iDlY-q87_Dak55aoO\" rel=\"nofollow noopener\" target=\"_blank\"><br \/>\n          <u>rokas@thesocietypass.com<\/u><br \/>\n        <\/a>\n      <\/p>\n<p id=\"gnw_attachments_section-header\">\n        <strong>Attachment<\/strong>\n      <\/p>\n<ul id=\"gnw_attachments_section-items\">\n<li>\n          <a target=\"_blank\" href=\"https:\/\/ml.globenewswire.com\/Resource\/Download\/5fa9ee11-7769-4652-84f8-34ee1af8bc52\" rel=\"noopener\">SOPA<\/a>\n        <\/li>\n<\/ul>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg3MDczNCM1NjgxODk3IzUwMDA4NjM4Mg==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/OTM5ZjE2Y2YtMjg2Yi00YjdlLThjYWEtZDZiMjg5NWE5YjA3LTUwMDA4NjM4Mg==\/tiny\/Society-Pass-Incorporated.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Acquisition Onboards Approximately US$30 million to Society Pass Revenue Base NextGen Retail Inc (formerly known as Leflair Inc) ventures out of Vietnam and enters the Indonesian market for the first time; creates online and offline retailer in SEA PT Inetindo Infocom acquisition onboards approximately US$30 million of annual revenues to Society Pass Inc. as well as substantial customer base for Society Pass\u2019s Loyalty App SINGAPORE, July 07, 2023 (GLOBE NEWSWIRE) &#8212; via NewMediaWire \u2013 NextGen Retail Inc (\u201cNextGen Retail\u201d), the online retail arm of Society Pass Incorporated (&#8220;SoPa\u201d) (Nasdaq: SOPA), Southeast Asia\u2019s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has entered into an agreement to acquire 95% of PT Inetindo Info (\u201cInetindo\u201d), a wholly &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Society Pass Inc (Nasdaq: SOPA) Subsidiary, NextGen Retail Inc, to Acquire Indonesia\u2019s PT Inetindo Infocom to Create an Online and Offline Electronics and Gaming Retailer in the World\u2019s 4th Most Populous Economy&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-768327","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Acquisition Onboards Approximately US$30 million to Society Pass Revenue Base NextGen Retail Inc (formerly known as Leflair Inc) ventures out of Vietnam and enters the Indonesian market for the first time; creates online and offline retailer in SEA PT Inetindo Infocom acquisition onboards approximately US$30 million of annual revenues to Society Pass Inc. as well as substantial customer base for Society Pass\u2019s Loyalty App SINGAPORE, July 07, 2023 (GLOBE NEWSWIRE) &#8212; via NewMediaWire \u2013 NextGen Retail Inc (\u201cNextGen Retail\u201d), the online retail arm of Society Pass Incorporated (&#8220;SoPa\u201d) (Nasdaq: SOPA), Southeast Asia\u2019s (SEA) next generation, data-driven, loyalty, fintech and e-commerce ecosystem, today announces that it has entered into an agreement to acquire 95% of PT Inetindo Info (\u201cInetindo\u201d), a wholly &hellip; Continue reading &quot;Society Pass Inc (Nasdaq: SOPA) Subsidiary, NextGen Retail Inc, to Acquire Indonesia\u2019s PT Inetindo Infocom to Create an Online and Offline Electronics and Gaming Retailer in the World\u2019s 4th Most Populous Economy&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-07T12:34:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODg3MDczNCM1NjgxODk3IzUwMDA4NjM4Mg==\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Society Pass Inc (Nasdaq: SOPA) Subsidiary, NextGen Retail Inc, to Acquire Indonesia\u2019s PT Inetindo Infocom to Create an Online and Offline Electronics and Gaming Retailer in the World\u2019s 4th Most Populous Economy\",\"datePublished\":\"2023-07-07T12:34:23+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\\\/\"},\"wordCount\":1404,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODg3MDczNCM1NjgxODk3IzUwMDA4NjM4Mg==\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/society-pass-inc-nasdaq-sopa-subsidiary-nextgen-retail-inc-to-acquire-indonesias-pt-inetindo-infocom-to-create-an-online-and-offline-electronics-and-gaming-retailer-in-the-world\\\/\",\"name\":\"Society Pass Inc (Nasdaq: SOPA) Subsidiary, NextGen Retail Inc, to Acquire Indonesia\u2019s PT Inetindo Infocom to Create an Online and Offline Electronics and Gaming Retailer in the World\u2019s 4th Most Populous Economy - 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