Aptos, Inc. today announced that it has entered into a definitive agreement to acquire TXT Retail.
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 10 offices and more than 300 colleagues in key markets across Europe, North America and Asia-Pacific.
"The acquisition delivers value to retailers and to Aptos. In recent years, Aptos has demonstrated its commitment to acquisitions that offer competitive advantage to its customers, by acquiring technologies that advance the realization 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," said Jason Wright, a senior partner at Apax Partners, the private equity firm that owns Aptos.
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.
"Aptos' planned acquisition of TXT Retail offers retailers a unique enabler in aligning omni-channel strategy with execution, fast-tracking the merchandise lifecycle, optimizing assortments, and ensuring consumer demand is met," said Noel Goggin, Aptos CEO and culture leader. "We are thrilled at the prospect of welcoming TXT Retail's customers and retail specialist colleagues to Aptos' growing, global family."
"To succeed in today's demanding retail environment, you must fully understand your customers and profitably align your offerings with their preferences in every channel," said Simone Pozzi, TXT Retail CEO. "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."
TXT Retail is based in Italy, with additional offices in Australia, Canada, France, Germany, Hong Kong, Singapore, Spain, United Kingdom and United States. The company is part of TXT e-solutions, an international group that is listed on the Italian Stock Exchange.
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