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Aptos acquires software company LS Retail

Jan '21
Pic: Aptos
Pic: Aptos
Aptos, a leader in retail technology solutions, has announced that it has entered into a definitive agreement to acquire LS Retail, a developer and provider of all-in-one software solutions for retail, hospitality, food service, pharmacy, and forecourt businesses. Based in Iceland, LS Retail has offices in Asia, Europe, the Middle East, and North America.

The combination of Aptos and LS Retail will create a retail technology powerhouse that is uniquely equipped to support retailers across all tiers, verticals, and geographies with advanced and innovative unified commerce solutions. Pending the deal’s culmination, which is expected in February 2021, LS Retail will operate as a stand-alone business unit within Aptos, according to a press release by Aptos.

LS Retail’s solutions are sold, implemented, and supported through a strategic global network of channel partners servicing more than 80,000 customer sites in over 140 countries. Its customer base spans fashion boutiques, electronics stores, furniture giants, duty-free chains, restaurants, hotels, pharmacies, coffee shops, gas stations, convenience stores, and more. The union of the two companies creates an unparalleled customer community whose collective breadth and depth of retail experience will be leveraged to share best practices for addressing retail transformation challenges and unique industry complexities, Aptos said in a media statement.

LS Retail’s best-in-class software solutions, including POS, ERP and inventory planning software, are developed specifically for retail, hospitality and food service businesses, empowering them with intelligence, actionable insights and specialised functionality to meet the needs of their industry. Built on Microsoft technology, LS Retail solutions are available as software as a service (SaaS) in the public Microsoft cloud.

“LS Retail is an exceptionally run organisation with world-class products, a growing and diverse customer base, and a strong network of nearly 400 local partners. The addition of a company of LS Retail’s calibre to the Aptos family allows us to better fulfil our mission of delivering tangible benefits to our customers and the retail industry we serve, as it broadens our knowledge base and resources, extends our vertical capabilities, and expands our geographic coverage. Upon the acquisition’s close, we look forward to providing Aptos’ full support, scale and capital resources to the LS Retail leadership team, allowing them to take the business to new heights,” Aptos CEO, Pete Sinisgalli said.

“Digitalisation has become even more urgent than before, and the need for unified commerce solutions is more compelling than ever. This puts LS Retail and Aptos in a prime position to increase market share and help more customers around the world. We feel incredible optimism that Aptos, with its deep domain expertise in SaaS and omni-channel transformation for retail, has chosen to partner with us to accelerate our growth trajectory. We are excited about the journey that lies ahead for both us and our exceptional partner community,” Magnus Norddahl, CEO of LS Retail said.

Fibre2Fashion News Desk (GK)

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