Spacenet Enterprises, on 22 December, announced a merger with Chennai data analytics firm Pathfinder Enterprise Solution Pvt Ltd in an equity swap deal.

In the merger, the shareholders of Spacenet Enterprise will get one share of the new company formed for every four shares held. The new entity will be managed under Pathfinder’s expertise.

Spacenet will hold a 25% stake in the new entity, whereas Pathfinder will hold the commanding 75%, which is subject to regulatory and NCLT approvals.

Prakash Dasigi, executive director of Spacenet, said, “We are excited about the merger. The anticipated goals after the merger are to onboard 10,000 retailers and engage with 250,000 shoppers within the first six months. This strategic approach aims to rapidly expand the RetailGPT ecosystem, fostering a vibrant community of retailers and shoppers to create a dynamic and thriving retail environment.”

Pathfinder Enterprise Managing Director Sadiq Ahmed said, “The creation of this new entity under Pathfinder’s management is poised to bring unparalleled brand visibility and awareness to our customers, firmly establishing us as a pioneer in AI-driven solutions for the multi-billion-dollar retail industry.”