Behind the scenes of the POSRocket acquisition [Part 2]

Behind the scenes of the POSRocket acquisition [Part 2]

In January 2022, Saudi Arabia-based fintech and foodtech startup Foodics announced it had acquired Jordan-based point of sale provider POSRocket. In the second part of this series, POSRocket founder Zeid Husban explains how the acquisition came about and the lessons he learned as a result. 

In our business, Q4 is the hottest month of the year in terms of sales, so to try and close the acquisition in Q4 was a big challenge, we wanted our teams to be focused because you never know if the deal will go through or not, and you do not want to waste time to grow.

Our market is small, I started getting calls from friends in the ecosystem congratulating me on the acquisition before even signing the termsheet. I really did not want the team to hear the news from anyone else, so decided to do an all-hands meeting to let them know about the news. It was a very tricky situation, as typically, everyone worries about the “unknown” and I personally did not have all the answers because we were still in the process, but I told them anyway. I started the meeting by explaining how 90 per cent of startups fail and only 10