Aptos has agreed to acquire TXT Retail, an end-to-end merchandise lifecycle management solution for apparel, luxury, specialty and general retail sectors. Expected to close September 2017, the acquisition will combine Aptos customer engagement and inventory management solutions with TXT Retail’s merchandise lifecycle suite.
Aptos will purchase TXT Retail for €85 million in cash (approximately $99 million) The transaction is scheduled to close no later than Oct. 31, 2017.
Following the close of the deal, the two companies’ combined customer base will include more than 1,000 retail brands, including Dior, Lacoste, Louis Vuitton, Sephora and Urban Outfitters.
With the acquisition, Aptos hopes to accelerate omnichannel transformation and customer loyalty for retail customers. The deal also will expand Aptos’ global presence; TXT Retail currently has 10 offices and more than 300 employees in markets across Europe, North America and Asia-Pacific.
“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, CEO of Aptos in a statement. “We are thrilled at the prospect of welcoming TXT Retail’s customers and retail specialist colleagues to Aptos’ growing, global family.”
Based in Italy, TXT Retail provides solutions for planning, designing, buying, distributing and delivering assortments through all stages of the customer lifecycle. The company is part of TXT e-solutions, an international group that is listed on the Italian Stock Exchange (TXT.MI).
“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, CEO of TXT Retail in a statement. “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.”