Spacenet, Pathfinder to merge for transforming retail with AI integration
Hyderabad-based fintech company, Spacenet Enterprises India, and Chennai-based business analytics and generative AI firm, Pathfinder Enterprise Solutions, have signed a memorandum of understanding (MoU) to merge their businesses, marking a significant step forward in the artificial intelligence (AI) and retail sectors.
The strategic alliance aims to integrate RETAILGPT, Pathfinder Enterprise Solutions’ proprietary generative AI platform, thus reinventing retail business strategies and customer interaction. RETAILGPT, a bridge between physical and digital retail, enhances shopping experiences on various platforms, including shopping centers, airports, and e-commerce.
The collaboration also paves the way for Pathfinder Enterprise Solutions’ listing on the National Stock Exchange (NSE), subject to regulatory and shareholder approval.
The agreement grants Spacenet Enterprises India’s shareholders, whose company is one of the top 1000 Market Cap firms on the NSE, ownership of shares in Pathfinder, providing them with an opportunity to capitalize on the rapidly expanding generative AI market. The AI market is projected to grow twenty-fold by 2030, from its current value of $100 billion to an estimated $2 trillion, indicating immense potential for Spacenet Enterprises India’s shareholders following the merger.
Representing Spacenet Enterprises India is Executive Director D V S Prakash Rao, and Pathfinder Enterprise Solutions is represented by Managing Director Sadique Ahmed. Their joint leadership and vision are anticipated to yield fruitful outcomes. The alliance marks a significant stride towards the future for the two companies and the broader AI and retail industries.
D V S Prakash Rao said: As we align with Pathfinder, we’re not just merging companies – we’re combining our passions, talents, and revolutionary technologies. We’re setting the stage for a new era of retail, one where AI doesn’t replace human touch, but enhances it.
“Through RETAILGPT, we aim to revolutionise the consumer experience, making it more personalized, interactive, and rewarding. Our shareholders stand to be key participants in this AI-driven retail evolution.”
Pathfinder Enterprise Solutions’ RAPPO, which processed over 1.4 billion GMV in Dubai Duty-Free retail shops last year alone, is a testament to the company’s proficiency in business analytics and generative AI. Its transformation of various commercial spaces into AI-powered marketplaces will significantly boost Spacenet Enterprises India’s market reach.
The merger, including Spacenet Enterprises India and Pathfinder Enterprise Solutions’ software divisions, is also under consideration, which could further optimize shareholder value and capture a larger market share in the burgeoning AI sector.
Sadique Ahmed said: “Pathfinder’s mission has always been to harness the power of AI to transform and elevate the retail experience. Joining forces with Spacenet is a strategic step towards achieving this goal on a larger scale.
“This union allows us to reach new frontiers, integrating our state-of-the-art RETAILGPT platform across diverse markets. The fusion of Pathfinder’s AI capabilities and Spacenet’s software expertise will enable retailers to connect more intuitively and productively with their consumers.
“We’re truly excited about this unique opportunity to reshape the retail industry and provide consumers with a Phygital shopping experience like never before.”