Epicor acquiring NSB Retail Systems for specialty retail software
Epicor Software Corp., a provider of enterprise software for mid-size and large retailers, is acquiring Montreal-based NSB Retail Systems PLC to expand its footprint in the market for retail operations software used by specialty retailers, the companies said today.
“NSB’s current retail market focus is well aligned with Epicor’s, and NSB brings an attractive, loyal customer base, which complements Epicor’s growing presence in the retail vertical and creates a market leader in the highly fragmented specialty retail market,” says George Klaus, chairman and CEO of Epicor. “We believe this combination will create substantial synergies, excellent cross-selling opportunities and significant economies of scale across the combined company.”
Epicor will pay about £160 million (about $322 million) for NSB, which is traded on the London Stock Exchange, the companies said. As of June 30, 2007, NSB reported cash and equivalents of $34.6 million and no debt. David Henning, CEO of NSB, will remain with the combined company in an executive management role heading Epicor’s expanded retail business, the companies said.
NSB’s clients include Montreal-based
Goody’s Family Clothing and the Australian retail chain Specialty Fashion Group. Epicor’s clients include American Eagle Outfitters, Ann Taylor, Coach, Stage Stores and Yankee Candle. Both software companies offer a range of web-enabled retail operations software including CRM, merchandise planning and supply chain management applications.
“NSB’s product set and customer base should further strengthen Epicor’s existing position in retail software, and enable this to be leveraged internationally across Epicor’s broader geographic footprint,” says Angus Monro, non-executive chairman of NSB Retail.
The boards of both Epicor and NSB have approved the acquisition, which is expected to close early next year.
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