Fushi Technology (Shenzhen) Co., Ltd ("Fushi") is delighted to announce its acquisition of Ascentis Pte Ltd ("Ascentis")
May 2023
We are pleased to announce a significant development at Ascentis, as we join forces with Fushi Technology Co Ltd. This collaboration marks a pivotal moment for us as we expand our presence in Southeast Asia, opening up an exciting new chapter in our journey. Please find the full transcript of our media release.
HONG KONG, May 18, 2023 - Fushi Technology (Shenzhen) Co., Ltd ("Fushi") is delighted to announce its acquisition of Ascentis Pte Ltd ("Ascentis"), a leading Customer Relationship Management ("CRM") and eCommerce SaaS solutions provider in Southeast Asia. With this acquisition, Fushi is Ascentis' controlling shareholder, and it marks a significant milestone in Fushi's globalization strategy.
Founded in 2003, Ascentis is headquartered in Singapore, with six offices in Southeast Asia. Ascentis specializes in CRM and eCommerce and has successfully implemented its SaaS solutions across 13 countries in the region. Its solutions focus on helping businesses create a seamless Online-to-Offline ("O2O") customer experience and journey that is both engaging and rewarding. Some of Ascentis' clients include Far East Organization, Lendlease, Singtel, Starbucks, and Sunway Group.
"Acquiring Ascentis will expedite Fushi's globalization strategy and expand its business into the growing Southeast Asia market," said Fushi. "Ascentis' O2O solutions, once integrated with Fushi's point of sale, Artificial Intelligence ("AI") lab, digital payment, and game center, will greatly enhance the group's offerings and ambitions to create smart Retail and F&B ecosystems for our customers. This becomes even more exciting when the ecosystem is integrated with the smart logistics and supply chain management solutions from Y3 Technologies, who is also a global strategic partner of Fushi."
This acquisition is a pivotal change for Ascentis, according to Bryan Tan, founder of Ascentis. "Fushi's technologies not only accelerate our plans to expand into more markets, but more importantly, it now completes our vision to offer a truly integrated, smart, and automated platform with capabilities in cashiering, digital payment, rewards, customer engagement and smart logistics."
Fushi is dedicated to providing merchants with end-to-end SaaS solutions and aims to become the largest one-stop digital services platform for merchants in China and Southeast Asia. Since its establishment in 2016, Fushi Technology's 500-strong R&D team has been deepening and expanding its SaaS services in retail and F&B with products such as POS, QR code menu ordering, mini-programs, artificial intelligence, digital payment, and game center.
OxPay's partnership with Ascentis offers loyalty solutions to its merchants
May 2022
On 18th May 2022, OxPay Financial Limited (SGX: TVV) has announced a partnership with Ascentis Private Limited to offer an integrated loyalty solution to its payment merchants. The announcement was made with SGX as OxPay Financial Limited (SGX: TVV) is a listed company in Singapore, under the Oxley group of companies. (https://lnkd.in/dCsYyZzt and https://lnkd.in/d5uZaV2w)
OxPay Financial Limited (SGX: TVV) partnership with Ascentis Private Limited will give local merchants the option of offering customers an integrated payment and loyalty solution. This will allow customers to shop and spend, while earning rewards from their favourite brands through a single platform.
The joint service will be launched first in Singapore with immediate effect and will eventually be rolled out in all of OxPay’s and Ascentis’ regional locations.
Looking forward to the successful partnership!
How these Singaporean tech firms are taking innovation to the next level
March 2022
Tech in Asia published an article about Ascentis Private Limited and our CEO, Bryan Tan, touching on the topic of innovation to the next level. > https://lnkd.in/gvzQ4dKX
Since the founding of Ascentis Private Limited in 2003, we have come a long way from being a start-up. Over the last 19 years, Ascentis Private Limited has evolved to a full-fledged, med/large corporation of more than 200 talented employees across Asia, powering CRM and loyalty programmes for many branded labels in the mall, retail and F&B space. Together with our sister company, Meet Isaac, we have also attained more than 100 awards, hitting several milestones along the way.
However, complacency is never part of our DNA. With an organisation filled with passionate and energetic team members, we continue to evolve and scale. During the Covid-19 pandemic phase and with the rise in enterprise digitalization, Ascentis Private Limited took the strategic stand to transform into a product-based company, moving away from the system integration work it has been doing previously. The AI and machine learning-enabled platform aggregates all its products into one platform, allowing clients to manage their customer relationship campaigns in one place and enabling them to accelerate and simplify their decision-making processes.
With the support from Digital Industry Singapore (DISG), a joint office of the Singapore Economic Development Board (EDB), we were linked to the prospective talents, resources and grants to help us build new in-house capabilities in machine learning. The support has greatly help us to scale up our development of our AI and ML functions, shortening our projected timeframe from 3-4 years, to 1-2 years.
The future ahead is exciting for us, as we look forward to creating more solutions that will help businesses address their pain points and improve their processes.
BREWING CHANGE: PATRICK KWOK
Starbucks Coffee Singapore General Manager Patrick Kwok talks technology, sustainability and successful partnerships.
February 2020
To help Starbucks Coffee Singapore with its technology endeavours, partnerships with businesses like Ascentis have been crucial. “These collaborations are very enriching for ourselves and our partners, and serve to really enhance customer experiences,” Patrick says. “Our customers benefit from exciting innovations and enhanced touchpoints.”
Marketing Magazine's Agency of the Year 2019
June 2019
Ascentis bagged CRM & Loyalty Agency of the Year (Silver) and Mobile Marketing Agency of the Year (Silver and Local Hero) awards at Marketing Magazine's Agency of the Year 2019 Awards Ceremony. We are thankful to all our customers and staffs who have made this possible!
A SUCCESSFUL LOYALTY PROGRAM WITH ASCENTIS:
BREADTALK REWARDS CELEBRATES ITS FIRST ANNIVERSARY
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December 2018 marks the first anniversary of the BreadTalk Rewards program for BreadTalk & Toast Box. The partnership has resulted in strong results, with more than 130,000 consumers on board the program, and continued growth every month. BreadTalk and Toast Box have also seen increased sales from the new loyalty program and received feedback on improved customer experiences in more than 100 local outlets that have implemented the program...
ASCENTIS LAUNCHES NEW OMNI-CHANNEL CRM SERVICE FOR FAR EAST ORGANIZATION
November 2018
Ascentis continues to lead the digitization charge of local retailers with the integration of the loyalty programme and relationship management platforms for Far East Organization (FEO), under the name ShopFarEast Rewards...
ASCENTIS RECEIVES IMDA QUALIFICATION AND WINS UOL MALLS CRM CONTRACT
November 2018
Ascentis was approved by the Infocomm and Media Development Authority of Singapore (IMDA) as one of Productivity Solutions Grant (PSG) vendor earlier this year, and was successfully referred to UOL to launch their first integrated loyalty and engagement system across its three malls...
ASCENTIS AND MEET ISAAC WIN 11 AWARDS IN 2018
October 2018
As a show of the continued good work and results, Ascentis and Meet Isaac have taken home a total of 11 awards from leading industry awards events in 2018...
