Retail technology solutions provider Aptos has signed an agreement to acquire Italian merchandise lifecycle management solutions provider TXT Retail, in order to offer omnichannel solutions for retailers.
TXT Retail offers end-to-end solutions to the apparel, luxury, speciality and general retail sectors.
Through the acquisition, Aptos intends to integrate its customer engagement and inventory management solutions with TXT Retail’s merchandise lifecycle management suite.
Owned by private equity firm Apax Partners, Aptos’ market presence will be enhanced through the agreement as it will have access to TXT Retail’s ten offices and more than 300 employees across Europe, North America and the Asia-Pacific.
Apax Partners senior partner Jason Wright said: “The acquisition delivers value to retailers and to Aptos. In recent years, Aptos has demonstrated its commitment to acquisitions that offer a competitive advantage to its customers, by acquiring technologies that advance the realisation 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.”
Once the transaction is completed, Aptos will expand its customer base to more than 1,000 retail brands, including more than 500 retail brands served by TXT Retail.
TXT Retail's client base comprises more than 500 retail brands worldwide, including adidas, Build-A-Bear Workshop, Dior, Guess, Louis Vuitton and Sephora.
Aptos CEO and culture leader Noel Goggin said: “Aptos’ planned acquisition of TXT Retail offers retailers a unique enabler in aligning omnichannel strategy with execution, fast-tracking the merchandise lifecycle, optimising assortments, and ensuring consumer demand is met.”
The company noted that TXT Retail’s solutions in the area of planning, designing, buying, distributing and delivering assortments complements its core merchandising and enterprise order management technologies.