TORONTO, Nov. 10, 2015 /PRNewswire/ -- Tequity Inc. acted as the exclusive advisor to Raymark Xpert Business Systems, Inc. in their acquisition by Mi9 Retail. The combined company brings together two innovators in retail software to offer a broad suite of real-time enabled applications. This represents the 8th successful Retail Technology transaction completed by Tequity in recent years.
"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," said Joe Skorupa, Editor-in-Chief, RIS News.
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."
Marc Chriqui, President, Raymark stated, "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
Headquartered in Montreal with offices in Atlanta, Paris, and Shanghai, Raymark develops and markets the ultimate suite of flexible and interconnected retail applications deployed in a centralized environment.
About Mi9 Retail
Mi9 Retail 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. The company's global headquarters are located in Miami, FL, with operations in North America, Europe and Asia.
Tequity specializes in advising the shareholders of software and information technology companies on sales, mergers, acquisitions, and exit strategies. We help our clients to obtain maximum value and achieve their growth or exit goals through strategic M&A transactions. www.tequityinc.com
Director of Business Development, Tequity Inc.
SOURCE Tequity Inc.