Jaffer Business Systems (JBS) announced the rupees 300 million acquisition of ENA, an IoT and Power startup on April 8, 2021.
The acquisition was signed between JBS and ENA at an online ceremony while respecting the Government of Sindh Covid-19 SOPs of the ban on events. Jaffer Business Systems (Private) Limited (JBS) is amongst the leaders in the Information Technology industry in Pakistan. Over the years, JBS has been successfully providing innovative, unique, and cost-effective solutions to businesses. After the success of Blutech acquisition 4 years ago, this is the second company JBS has acquired as part of its strategic framework of Scale, Excellence, and Innovation.
On the occasion, Veqar Islam, CEO of JBS said: “Against the common belief it is observed that only 16% startups fail due to lack of access to Finance. Our model of acquisition, while promoting entrepreneurship, provides for the structure and platform which is cardinal to the success of a new setup. Our role is to work with Startups in a manner that we mitigate their risks for failure, and provide them with structure, governance, support which help them scale, innovate and be successful.”
Amir Salman, CEO of ENA, said “ We are a company with a vision to connect and power the business world. We power the world, with the latest hybrid technologies, which save fuel, reduces operations cost, and significantly contribute to a Green Environment. As we move into the future, our IoT used cases will develop connectivity that helps reduce power consumption and provide for better control of electricity bills and save against misuse. JBS provides us with the right platform and brand image, which will significantly help us to exceed our goals for scale, excellence, and innovation ”.
JBS strategy is to make a material impact in the entrepreneurial scene of the country, by acquiring, enabling, helping structure Startups for success. JBS plans to acquire at least 8-10 startups that are offering innovative products and solutions to create an impact in the lives of people, businesses, and communities in the areas it operates. Under the dynamic leadership from the JBS platform, ENA will scale and innovate further with excellence.
ENA (Energy N Automation) is a startup, founded in 2016, that provides IoT and Power solutions to businesses focusing on the financial sector. ENA’s mission is to connect the world through IoT and contribute to a greener world by reducing carbon footprints and fuel consumption, thus redefining Power and Connectivity.
Being one of the leading IT companies, JBS is constantly striving to improve and strengthen the entrepreneurial ecosystem by supporting and assisting new startups and budding entrepreneurs of Pakistan.