Retail software solutions developer Retalix Ltd. (Nasdaq: RTLX; TASE: RTLX) MTXEPS LLC of the US for $18.95 million in cash, and will pay up to $6 million in milestone payments over the next two years.
MTXEPS provides secure, end-to-end electronic payment software solutions for retailers, delivered via SaaS and in-store models. The company has deployed its solutions directly or via partners, including Retalix, to over 20,000 stores in North America.
Retalix CEO Shuky Sheffer said, "With MTXEPS's premier electronic payment software solutions and large satisfied customer base, we enhance our market leadership in offering retailers comprehensive, advanced solutions across all customer touch points and sales channels. SaaS is one of our growth engines, and MTXEPS's SaaS platform and offerings enhance our position in this rapidly evolving space."
MTXEPS president Jon Elwood added, "We've had a very successful partnership with Retalix in the US since 2004, and this acquisition is definitely a win-win for both Retalix and MTXEPS employees, customers and partners."
Retalix's share price fell 0.3% on Nasdaq yesterday to $15.09, giving a market cap of $364 million and was down 0.1% in early trading on the TASE today to NIS 51.50.
Published by Globes [online], Israel business news - www.globes-online.com - on July 27, 2011
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