Priority Software Acquires Israel-based Edea

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TEL AVIV, Israel, March 1, 2021 /PRNewswire/ -- Priority Software Ltd., a leading global provider of ERP solutions, owned by TA associates and Fortissimo Capital, today announced the expansion of its retail ERP solutions offering with the acquisition of Edea AMC Ltd., an Israel-based provider of an innovative UNIFIED COMMERCE solution, that enables retailers to deliver an advanced Omnichannel customer experience.

The acquisition will enable Priority customers around the world to benefit from Edea's end-to-end Retail Management System (RMS). Fully based on the Priority ERP platform, Priority retail customers will enjoy a wide range of solutions to effectively manage and control online and offline sales, including comprehensive management of their entire supply chain, front- and back-end processes, financials, and more. Further, this acquisition will help accelerate the distribution and deployment of the unified retail solution into new international markets, with the support of Priority's global partner ecosystem that operates in over 40 countries, including the US and UK.

While most of the solutions in the retail market require integrations between an ERP system and various stand-alone systems, such as point-of-sale, e-commerce, or customer loyalty programs to effectively manage the supply chain, now fully based on Priority ERP, these and other key functionalities will enhance the overall user experience – all from a single platform. Priority's retail customers will benefit from a holistic real-time view of their operations, a single data set with no need for interfaces, to improve consumers' purchasing experience, in-store, and online.

Developed by Edea on the Priority platform, the UNIFIED COMMERCE solution is currently deployed by hundreds of leading retail chains throughout Israel, such as Castro, Renuar, Kravitz, Mega Sport, the Israel National Parks Authority, and many others. Edea's solution is also used by hundreds of shops of Israeli franchisees of international brands, including Estée Lauder, MAC Cosmetics, Clinique, Bobbi Brown, Superdry, Desigual, Swatch, TOUS, Carters, Columbia, Aldo, Steve Madden, Replay, Sketchers, Impress, ACE, Auto Depot, KIKO Milano, Yves Rocher, Keds, Nintendo, Heinemann, James Richardson Duty Free, and more.  

The merger of Priority and Edea will facilitate accelerated distribution of the common solution to additional markets with the support of Priority's global partner network, and to further develop the product for retail chains in other key sectors.

The acquisition of Edea follows Priority Software's purchase of Belgium-based Optimize Group in 2019, US-based Acclivity in 2018, Israel-based Monitin Information Systems' ERP activity in 2017, and the purchase of US-based ERP consulting and services firm, Performa Apps in 2016. This acquisition is in keeping with Priority's company strategy, and represents a significant step in enriching and expanding its product portfolio on a global scale. Closing is subject to customary closing conditions, and is expected in March 2021.

"We are seeing how the global retail market is consistently changing, evolving, and relying more and more on advanced technologies in both the back- and front end," said Andres Richter, CEO of Priority Software. "To support this market's dynamic needs, namely the synergy between in-store and e-commerce activities, backed by multi-channel operational management, merging Edea solutions with Priority ERP, will give our customers a uniquely tailored response to meet their business needs. This is a tremendous opportunity for us to expand our presence in the retail sector and offer customers unified management and control of their operations, logistics, sales, and employees, that in turn, will enhance consumers' shopping experience."

Shlomit Pinkas Elkayam, CEO of EDEA, commented, "Following a long standing and fruitful partnership with Priority Software, joining forces, and combining our expertise, is a natural evolution, and we are excited to work together to enhance Priority's product offering. With the many challenges of the pandemic, the retail and restaurant sectors have undergone significant change. In its initial phase, we witnessed a massive surge in online activity, and today, the market is preparing itself for the reopening of retail outlets and restaurants. Today, a multi-channel commerce management system demands a robust back-end, matched with smart operations, fast response, and creativity. With Priority, we know we can deliver what our customers need, not only today, but well into the future. Over the years, Priority and Edea have consistently proven their growth capabilities, and I am excited about the opportunities that await us when we work together as a single entity, supported by Priority's entire partner network. "

About Edea

Founded in Israel in 2005 by Shlomit Pinkas Elkayam and Ilan Elkayam, Edea specializes in the retail and hospitality industries, known for its flagship 'OneCore' product, a headless commerce solution designed via microservices to serve all commerce's unique core business capabilities to various front-end solutions developed by Edea, such as mobile POS, self-service kiosk, online ordering apps, and to any third parties, including e-commerce, payments, CRM, and marketing automation solutions and providers. The strengths offered by the Edea solution include a full retail management platform, customer loyalty programs, gift cards, optimization of dynamic pricing, multi-channel order management, Customer Data Platform (CDP), personalized promotions and recommendations, and more.

To complement Edea solutions, Edea's value-added partners develop and support a range of products, including hardware, e-com developers, DBA services, VPN infrastructure and communications, credit card and gift card clearing services, and more. For more information, visit www.edea.co.il/en/.

About Priority Software

As a global ERP solution provider, with offices in the U.S., UK, Belgium, and Israel, Priority thrives on innovation, delivering the tools and functionality to meet the unique needs of its customers. Powered by flexibility, system openness and mobility tools, Priority believes that ERP systems should and can be easier to use, easier to implement, and easier to maintain and enhance. Priority ERP supports financial and operations processes by delivering the necessary tools to achieve this flexibility, including Business Process Management (BPM), mobile application generator, user-level personalization, business rules generator, and more.

Priority Software provides end-to-end business management solutions for organizations of all sizes in a wide range of industries, from a fully featured ERP platform serving multinational corporations, to small and growing businesses. Recognized by top industry analysts and professionals for its product innovation, Priority improves business efficiency and the customer experience, providing real-time access to business data and insights in the cloud, on premise, and on-the-go. With a global network of business partners, Priority enables 10,000 ERP customers in 40 countries to manage and grow their business. For more information, visit www.priority-software.com.

For more information, contact:
Rose Wolfe, Priority Software
[email protected]

SOURCE Priority Software Ltd.

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http://www.priority-software.com