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Aptos to acquire TXT Retail Group
28
Jul '17
Courtesy: Txt Retail
Courtesy: Txt Retail
Aptos, Inc., a market leader in retail technology solutions, has announced that it has entered into a definitive agreement to acquire TXT Retail, the first mover and leading provider of end-to-end merchandise lifecycle management solutions for the luxury, fashion, and specialty retail sectors. TXT Retail is a part of TXT e-solutions, an international group.

The acquisition is expected to close September 2017 subject to customary closing conditions and will combine Aptos’ best in class customer engagement and inventory management solutions with TXT Retail’s best of breed merchandise lifecycle management suite. The extended solution footprint will address retailers’ most critical business objectives: accelerating omni-channel transformations, while cultivating customer loyalty in a time when “right product, right place, right time” has reached new urgency in competing against Amazon.

The deal also expands Aptos’ global presence; TXT Retail has ten offices and more than 300 colleagues in key markets across Europe, North America, and Asia-Pacific.

Following the acquisition’s close, the combined customer base would include more than 1,000 retail brands. Currently, TXT Retail serves over 500 retail brands worldwide, including Adidas, Build-A-Bear Workshop, Dior, Guess, Lacoste, Louis Vuitton, Sephora, Tesco, Tod’s, Urban Outfitters, and Zalando. Likewise, more than 500 retail brands across 40 countries rely on cloud-ready Aptos solutions.

TXT Retail’s solutions, which cover the full spectrum of activities in planning, designing, buying, distributing and delivering assortments through every stage of their lifecycle, are highly complementary to Aptos’ core merchandising and enterprise order management technologies.

Jason Wright, a senior partner at Apax Partners, the private equity firm that owns Aptos said, “In recent years, Aptos has demonstrated its commitment to acquisitions that offer competitive advantage to its customers, by acquiring technologies that advance the realisation of singular commerce and by establishing access to geographic markets in which customers hope to grow. The acquisition of TXT Retail accomplishes both; we are confident that this combination will lead to improved results for the customers and the overall business.”

Noel Goggin, Aptos CEO and culture leader said, “Aptos’ planned acquisition of TXT Retail offers retailers a unique enabler in aligning omni-channel strategy with execution, fast-tracking the merchandise lifecycle, optimising assortments, and ensuring consumer demand is met.”

Simone Pozzi, TXT Retail CEO said, “The combination of Aptos’ customer engagement prowess with TXT Retail’s integrated, end-to-end merchandise lifecycle management solution will allow retailers to pursue the business transformations that are critical to their success while engaging customers differently, no matter when, where, or how they shop.” (GK)

Fibre2Fashion News Desk – India


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