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TXT buys fashion software specialist Maple Lake
03
Oct '12
TXT e-solutions has closed the definitive agreement to acquire 100% of Maple Lake, a fast-growing specialist in Fashion Retail Planning in Canada, USA, UK and Australia.

The preliminary transaction, signed on July 19, 2012 has been finalized and closed, on time and on budget, following completion of all agreed conditions precedent. The total price of 10.7 m€ is being paid in cash (9.5 m€) from available liquidity and in TXT stock (238,854 new TXT common shares, for a value of 1.2 m€). These shares will be subject to lock-up until 31.12.2013, and the price will be adjusted to reflect Maple Lake cash and working capital at the date of closing.

Maple Lake management – the sellers – may be entitled to an additional earn-out, up to a maximum of 4m CAD$ (3.2 m€) in cash, subject to revenue growth and profitability targets to be achieved in 2013 and 2014 through integration synergies of Maple Lake with TXT.
 
The TXT Stockholders’ Meeting is expected to take place before the end of 2012. The information document on the transaction will be made available to the public in advance, in accordance to Stock Market regulations.
 
Through this acquisition TXT obtains a direct presence in North America, where it already has many important customers, and in Australia. It also strengthens itself in Europe, thus becoming the leading, global supplier of innovative Integrated Retail Planning solutions for the Fashion, Luxury and Retail markets.
 
Maple Lake brings to the combined company approximately 50 new, large retail customers. After the acquisition, TXT will have more than 400 Fashion Retail customers, managing well over 100,000 stores and channels worldwide.
 
The acquisition merges TXT’s and Maple Lake’s superior technology and advanced retail expertise for Luxury, Fashion and Apparel, which are among today’s most dynamic sectors of business. The target market for TXT products increases threefold, to over 1500 large retailers in North America, Europe and Australia.
 
The resulting TXT product line is immediately enhanced; all customers of both companies are seamlessly supported, and are being offered richer and expanded functionalities of Integrated Retail Planning. All Maple Lake products will continue to be commercially available, maintained and rapidly integrated into the TXT platform.
 
 


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