MIAMI, Nov. 3, 2015 /PRNewswire/ -- Mi9 Retail, the premier provider of enterprise retail merchandising, business intelligence and store operations software, has acquired Montreal-based Raymark Xpert Business Systems, Inc. The combined company brings together two innovators in retail software to offer a broad suite of real-time enabled applications, including merchandising, analytics, point of sale, omni-channel, clienteling and CRM. The company will continue supporting and developing all existing applications to deliver best-in-class products and services.
"Mi9 Retail and Raymark have been moving forward on parallel lines for a number of years, so the acquisition of Raymark by Mi9 Retail will bring a new depth to the solutions that serve the apparel and specialty verticals. These solutions include merchandise planning, analytics, CRM, loyalty, POS, distributed order management, mobile and more," said Joe Skorupa, Editor-in-Chief, RIS News. Skorupa further elaborated, "Mi9 Retail, a pioneer in retail merchandising, has been a top performer in customer satisfaction surveys for many years, as demonstrated in the annual RIS News LeaderBoard rankings, and Raymark has recently become a rising performer. This bodes well for creating a strong unified approach to customers when the companies officially merge and a smooth transition of corporate cultures. Also, Mi9 Retail's strong U.S. focus will achieve benefits from Raymark's broader international approach."
Mi9 Retail has experienced explosive growth over the past two years based on the strength of its flagship Merchandising and Business Intelligence solution, the only such solution on the market available as a single product. Built on a common set of web technologies, this solution can be deployed in the cloud, on premises or as a service to lower IT and implementation costs.
The acquisition of Raymark will enable Mi9 Retail to serve a larger base of retailers and broaden its offering to include the best retail specific customer-centric applications on the market. Raymark's mobile point of sale, mobile inventory management and clienteling solutions are designed to enhance customer engagement and augment the customer experience with real-time visibility into product and customer data across all channels.
"Consumer expectations for seamless shopping experiences are placing new operational burdens on stores to support new customer-led business models. Store associates, in particular, must be able to serve and support critical cross-channel processes — such as order management, inventory management, replenishment and returns — while also having access to the same types of information and insight customers leverage throughout the shopping process," stated Kelsie Marian, Principal Research Analyst with the Gartner Industry Advisory Services team.1
"The combination of Mi9 Retail and Raymark is game changing for the retail industry," said Mi9 Retail President Neil Moses. "Consistent with the industry trends reported by leading analysts, we sought to combine with Raymark to offer the most robust end-to-end solutions on the market, all based on modern technology, to empower virtually any type of retailer in the world to innovate how they manage inventory, employees and customer interactions."
"For 25 years, Raymark has helped the world's most prestigious international retail brands run their daily retail operations," said Marc Chriqui, President, Raymark. "Today is an exciting day for Raymark's customers. The resources that Mi9 Retail brings will enhance our customers' ability to innovate, modernize and scale."
1Gartner, How Retail CIOs Can Increase Revenue by Improving Associate and Customer Engagement, Kelsie Marian, 16 March 2015
About Mi9 Retail
Mi9 Retail, the premier provider of enterprise retail merchandising, business intelligence and customer-centric software, empowers the world's most successful retailers to build strong personal relationships with their customers, process high volumes of transactions in real time, and optimize inventory across all channels utilizing a single, accurate source of the truth. Built using cutting edge technology, the software minimizes costs of ownership and provides the industry's fastest time to value. The company's global headquarters are located in Miami, FL, with operations in North America, Europe and Asia. For more information, please visit www.mi9retail.com.
SOURCE Mi9 Retail