Aptos, a recognized market leader in retail technology solutions, today announced that it has entered into a definitive agreement to acquire LS Retail, a world-leading developer and provider of all-in-one software solutions for retail, hospitality, food service, pharmacy and forecourt businesses.
The combination of Aptos and LS Retail will create a retail technology powerhouse that is uniquely equipped to support retailers across all tiers, verticals and geographies with advanced and innovative unified commerce solutions. Pending the deal’s culmination, which is expected in February 2021, LS Retail will operate as a stand-alone business unit within Aptos.
Aptos’ planned acquisition of LS Retail follows its announcement last year of its completed acquisition by affiliates of Goldman Sachs Merchant Banking Division. The new strategic ownership change paves the way for accelerated investments in product innovation and continued focus on global market expansion.
LS Retail’s solutions are sold, implemented and supported through a strategic global network of channel partners servicing more than 80,000 customer sites in over 140 countries. Its customer base spans fashion boutiques, electronics stores, furniture giants, duty-free chains, restaurants, hotels, pharmacies, coffee shops, gas stations, convenience stores and more.
The union of the two companies creates an unparalleled customer community whose collective breadth and depth of retail experience will be leveraged to share best practices for addressing retail transformation challenges and unique industry complexities.
LS Retail’s best-in-class software solutions – including POS, ERP and inventory planning software – are developed specifically for retail, hospitality and food service businesses, empowering them with intelligence, actionable insights and specialized functionality to meet the needs of their industry. Built on Microsoft technology, LS Retail solutions are available as software as a service (SaaS) in the public Microsoft cloud.
“LS Retail is an exceptionally run organization with world-class products, a growing and diverse customer base, and a strong network of nearly 400 local partners,” said Aptos CEO Pete Sinisgalli. “The addition of a company of LS Retail’s caliber to the Aptos family allows us to better fulfill our mission of delivering tangible benefits to our customers and the retail industry we serve, as it broadens our knowledge base and resources, extends our vertical capabilities, and expands our geographic coverage. “Upon the acquisition’s close, we look forward to providing Aptos’ full support, scale and capital resources to the LS Retail leadership team, allowing them to take the business to new heights,” Sinisgalli said.
LS Retail’s management team is led by Magnus Norddahl, who serves as the company’s CEO and has over 30 years of management experience in the software, IT, pharmaceutical and banking industries.
Commenting on the acquisition, Norddahl said, “The pandemic has amplified or accelerated existing realities. Businesses always have been, and always will be, dealing with change; they need solutions that provide visibility, knowledge and predictable outcomes. Digitalization has become even more urgent than before, and the need for unified commerce solutions is more compelling than ever. This puts LS Retail and Aptos in a prime position to increase market share and help more customers around the world.”
“We feel incredible optimism that Aptos, with its deep domain expertise in SaaS and omnichannel transformation for retail, has chosen to partner with us to accelerate our growth trajectory. We are excited about the journey that lies ahead for both us and our exceptional partner community,” Norddahl concluded.
Based in Iceland, LS Retail has offices in Asia, Europe, the Middle East and North America and approximately 250 colleagues.
Barclays Investment Bank is acting as the exclusive financial advisor, and White and Case LLP and Réttur - Aðalsteinsson & Partners ehf. are acting as the legal counsel for LS Retail.
In an era of virtually limitless choice, sustained competitive advantage only comes to retailers who truly understand their customers, what they want and why they buy. We are committed to a deep understanding of each of our clients and to fulfilling their needs with the retail industry’s most comprehensive omnichannel solutions. More than 1,000 retail brands rely on our solutions to deliver every shopper a personalized, empowered and seamless experience – no matter when, where or how they shop. Learn more: www.aptos.com.