Confiz, Mantaq Systems merged

KARACHI: Confiz Ltd and Mantaq Systems announced on Friday that their board of directors have approved an agreement for a strategic merger between the two organisations, according to a press release.
It described the decision as being one of a kind in the history of the IT industry in Pakistan. The merger will result in a leading technology and innovative company driven by ground-breaking solutions which is intended to transform the retail business across the globe, it said.
Raza Saeed, the CEO of Confiz, was quoted as saying in his remarks on the occasion that by 2017 the merged company will be worth $10 million.
Mantaq Systems has a strongly differentiated value proposition as a specialised provider of ERP implementation and consulting services in the retail market, and this will help the merged company open new avenues in the international market, the press release said.