Demandware made ripples on the NRF BIG Show floor by announcing its acquisition of POS and store operations solution provider Tomax. Demandware will pay $75 million for the company: $60 million in cash and $15 million in contingent retention-based payments.
By combining enterprise-class POS solutions from Tomax with its cloud platform, Demandware is aiming to create a unified commerce platform that empowers retailers to create a seamless experience across all channels. The acquisition is expected to close by the end of this month.
With a 20-year presence in the retail industry, Tomax has provided POS technology to large enterprise retailers such as Hallmark, L.L. Bean and Party City. Its addition to the Demandware solution suite is positioned to provide retailers with real-time information on customers, allowing them to more effectively personalize the shopping experience.
“The retail landscape is rapidly changing with more than 70% of specialty stores saying their next POS will be a unified commerce platform,” said Greg Buzek, Founder and President of IHL Group. “Traditional siloed systems are not meeting the needs of the consumer who requires the same experience across channels and devices.”
Buzek added that in the modern retail era, retailers require a “single version of the truth — one view of the enterprise organization and information about the consumer from POS to digital commerce. Demandware’s acquisition of Tomax significantly advances its One Platform strategy.”