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Goldman Sachs to pick up Aptos
Posted on Tuesday, 14 January 2020 14:58
Retail technology products maker Aptos is to be acquired by funds affiliated with the merchant banking division of Goldman Sachs after the parties agreed terms.
No financial details of the takeover have been disclosed at this time and it is not clear when completion can be expected to follow.
Under the terms of the deal, Goldman Sachs will buy the business from funds advised by Apax Partners.
Commenting on the buyout, Will Chen, the buyer’s managing director, said: "With the strength of Aptos' executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions.
"We look forward to helping the company further scale the product innovations, customer success initiatives and global market expansions that have been hallmarks of Aptos' preeminence to date."
Aptos claims to be a market leader in retail technology solutions and one of the world’s largest providers of retail-focused enterprise software.
The company, which was established in 2015 through a spin-out from Epicor, has an extensive product range used by over 1,000 retail brands in some 65 countries.
It completed an acquisition of its own in October 2017, when it paid EUR 85.00 million to pick up the retail division of TXT e-Solutions.
Zephyr, the M&A database published by Bureau van Dijk, shows the most valuable deal targeting a software publisher to have been announced worldwide during 2019 was worth USD 15.70 billion and involved Salesforce.com picking up Tableau Software back in August.
This was followed by the USD 11.00 billion takeover of Ultimate Software Group by an investor consortium led by Hellman & Friedman and also including Blackstone, GIC, Canada Pension Plan Investment Board and JMI Management.
The buyers acted through an acquisition vehicle known as Unite Parent.
Other companies in the sector to have been targeted over the 12 months included LINE Shokei Kaisha, Honey Science and the enterprise security business assets and liabilities of Symantec.
© Zephus Ltd