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NCR to Acquire Retalix
NCR Corporation, a technology company, recently revealed that it is all set to acquire Retalix Ltd. (RTLX), a provider of innovative retail software and services. NCR will pay $30.00 per Retalix share, implying a transaction value of approximately $650 million.
Retalix provides innovative software and services to high volume, high complexity retailers including supermarkets, convenience stores, gas stations, drug stores and department stores. The company's products and services help its customers to manage and optimize their retail operations, differentiate their brand and build consumer loyalty while providing retailers with the flexibility and scalability to support ongoing business transformation and growth. By leveraging a multitude of deployment options like Software-as-a-Service (SaaS (News - Alert)), Retalix Ltd. serves a large customer base of approximately 70,000 stores across more than 50 countries worldwide.
"Retalix is a strong, strategic fit for NCR and the combination of our two companies will drive significant value for both our shareholders and customers," said NCR Chairman and CEO, Bill Nuti, in a statement. "Retalix's market-leading software and services capabilities will enhance NCR's retail solutions, creating a world-class portfolio of offerings. That innovation plus the addition of exceptional talent to our team positions NCR as the global leader in retail innovation."
According to company officials, NCR will try and build upon its integration with Radiant Systems into its portfolio of solutions. The company will now be able to further accelerate its corporate strategy by increasing the portfolio mix of higher-margin software and services.
"I am very excited about today's announcement. Combining Retalix's impressive team and portfolio with NCR will create a powerful enterprise-class software platform capable of delivering a sustained competitive advantage in the retail industry," added Shuky Sheffer, chief executive officer of Retalix. "Together, we will create a talent pool and solutions portfolio that will be richer than anything available before, enabling our customers to deliver a superior omni-channel shopping experience. I am proud of our achievements and strongly believe that this is a great move that will benefit our customers, employees and shareholders."
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Edited by Jamie Epstein