ITALY: TXT acquires Maple Lake in EUR10.7m deal
Retail planning specialist TXT e-solutions has acquired software provider Maple Lake for EUR10.7m (US$13.8m), in a move that scales up its geographic reach and offering.
The deal gives TXT a direct presence in North America and in Australia, and strengthens its position in Europe. After the acquisition, it says it will have more than 400 fashion retail customers, managing well over 100,000 stores and channels worldwide.
"This acquisition, coupled with our own strong innovation ability, shows that TXT can scale up in geography, in technology and in business reach, even in these challenging times," says group chairman Alvise Braga Illa.
Preliminary results for Maple Lake's fiscal year ended 30 June show revenues of EUR7.2m, EBITDA of EUR1.8m, and net income of EUR1.2m. All Maple Lake personnel will be retained in the merged company.
UK based women's apparel retailer Hobbs is the latest company to implement Maple Lake's 'out-of-the-box' QuickAssortment planning solution to help improve its planning, financial control and targeting of assortments for its online, wholesale and store channels.
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