Retail technology solution-provider, Aptos has entered an agreement to acquire TXT Retail, a global product life-cycle management, or PLM, solution focused on the apparel, luxury, specialty and retail sectors.
The acquisition is expected to close in September. Specific details on the deal were not released. The partnership will combine Aptos’ present engagement and inventory management solutions with TXT Retail’s merchandising platform. The new partnership will aim to be an answer to Amazon’s domination with newly minted omnichannel footprint for its customers.
“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.
Upon the finalization of the deal, Aptos stands to gain TXT Retail clients ranging from Dior, Urban Outfitters, Adidas, Lacoste, Guess, Sephora and Tod’s, among others.
Aptos will broaden its offerings to its customers under the acquisition. The solution provider centers on analytics, operations management, CRM and clienteling, digital commerce, merchandising and point-of-sale solutions. Bringing supply chain management, TXT Retail will broaden Aptos’ reach to service customers throughout the full value chain.
“To succeed in today’s demanding retail environment, you must fully understand your customers and profitably and align your offerings with their preferences in every channel,” said Simone Pozzi, chief executive officer at TXT Retail. “The combination of Aptos’ customer engagement prowess with TXT Retail’s integrated, end-to-end merchandise life-cycle 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.”
Faced with the throttling pace of consumption, brands and retailers are searching for holistic solutions that not only speak to front-end shopper engagement but platforms that are able to devise actionable workflow to build efficiency and improve margins.
Shoppers are turning to e-commerce giant, Amazon for accelerated delivery options and frictionless mobile commerce. In order to keep step with ever-shifting consumer expectations, end-to-end PLM and engagement tools are necessary to collect shopper data to discern and deploy informed business strategies.
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