Zilingo, a Singapore-based B2B tech platform for fashion businesses, announced today its acquisition of Sri Lankan software-as-a-service company nCinga Innovations, in a US$15.5 million cash and stock deal.
nCinga offers an integrated digital ecosystem that delivers real-time data insights to help factories and manufacturing companies work more efficiently.
Through this deal, Zilingo aims to bolster its global supply chain capabilities.
Zilingo will begin using nCinga’s Manufacturing Execution System (MES) across its global network of 6,000 factories, and the 75,000 businesses on its platform will also gain access to it, opening them up to “previously untapped markets”.
This adds on to Zilingo’s own existing full-stack technology platform which the firm says “makes the supply chain fair, transparent and connected”.
“Fashion is an over US$3 trillion industry, in which a majority of retailers struggle with meeting consumer demand for fast, on-trend and responsibly produced products due to inefficiencies and information asymmetry,” said Zilingo.
Leveraging their global network, the firm plans to increase the distribution of nCinga’s software especially in “core fashion manufacturing markets” like Bangladesh, India, Vietnam, Indonesia, Thailand and Turkey, among others.
They also say the acquisition will bring added features to customers in the United States, Europe and Australia, “where brands traditionally lack transparency over supply chain and manufacturing processes”.
In October, Zilingo just announced it would be investing US$100 million to accelerate its growth in the US.
Featured Image Credit: Zilingo