In May of 2021, SovTech, a growth-driven, tech-focused software company, acquired South African e-commerce company OfficeBox. SovTech obtained the business from JSE-listed company Deneb Investments.
OfficeBox was founded in 2014 and is South Africa’s leading online stationery and office supplies retailer. OfficeBox has developed bespoke technologies and a countrywide delivery footprint that allows businesses with various locations to order a vast array of office products from a single source. Companies can place orders in as little as a few minutes by logging onto their online 30-day account on www.officebox.co.za and shopping directly from their customisable favourites lists or a 6000+ product catalog. OfficeBox proudly boasts preferential pricing for all customers. The progressive web app offers intelligent control features, such as order authorisation choices and ordering from restricted, pre-approved goods lists.
One of SovTech’s core beliefs is that every company is a software company, and that is why this acquisition compliments SovTech’s ideologies. SovTech is using innovative technology solutions to improve client experience and software functionality on the online platform. SovTech’s 9 years of engineering expertise strives to ensure that OfficeBox remains the top online office supplies and stationary company in South Africa. Furthermore, the e-commerce space has seen exponential growth over the last year, especially due to the Covid-19 pandemic, where brick & mortar businesses have been forced into digital transformation. The acquisition allows both SovTech & OfficeBox to grow significantly in this e-commerce boom.
The Covid-19 pandemic accelerated the unprecedented growth surge in the digital and e-commerce sectors. As businesses around the globe were forced to digitise, ecommerce’s share of global retail trade rose from 14% to 17% in just one year. It is very likely that this uptake will be sustained in the future as emerging economies were seen to be making the biggest shift into the e-commerce space. It is imperative that businesses in all countries harness the e-commerce potential in order to benefit from global markets.
