Global leader in flexible, omni-channel retail management solutions will expand focus and investment in brand under the guidance of the current CEO, and now owner, Kerry Lemos.
Buyout continues Retail Pro’s strategic focus on creating world’s most agile retail technology erasing operational borders for retailers everywhere and fostering global growth of retail.
FOLSOM, CA – January 2, 2013
Retail Pro International ,LLC(RPI), retail technology industry leader, announced today a management buyout led by the current CEO – Kerry Lemos. Based on the terms of the agreement Kerry Lemos, with partial funding provided by the Silicon Valley Bank, acquires all rights for assets and brand as of January 1, 2013.
The company has provided retail industry with compelling retail management solutions for over 25 years, but it is during the last 4 under the guidance of current leadership Retail Pro® has reestablished itself globally as a preferred solution for retailers committed to their businesses and customers.
"Retail Pro® products today reflect the extraordinary dedication and passion of engineering, development, support and business staff, and with our new-found freedom to guide our own destiny we can do more" said Kerry Lemos. "The buyout is an exciting time for the company as the entire management team and employees of RPI share in the vision to take Retail Pro® into the next-generation of solutions and services."
Retailers everywhere whose businesses are built on the foundation of Retail Pro® products will benefit from accelerated development of new solutions and a greater dedication to globally local service. Immediate plans include growth of the development organization, continued investment in support networks in the developing markets, and a rededication of Asia. The latter becomes a game changer for retailers looking for a fast and obstacle-free go-to-market path in the global market most prominently featured in the growth plans for many retail brands.
The management buyout of Retail Pro International is a logical investment. "The strategic evolution of business direction of the last few years demonstrates the company’s ability to build and expand the potential of agile retail management solutions through the development of technology and service models that create maximum value for our customers," shared Alexandra Frith, Director of Marketing at Retail Pro International. "Investment in the Retail Pro® brand and all that it stands for significantly enhances company’s ability to serve Retailers with a diverse range of business needs and create the ever-growing meaningful engagement potential for our community of Alliance Partners, Business Partners and Development Partners."
"The buyout is completely in sync with RPI’s strategic priorities for ethical and sustainable long-term growth,” said Kerry Lemos, CEO and now owner of the company. "It will enable us to continue investing in our international presence, allow us to expedite our time to market for new products and extend the ability to care for our customers. I believe in the value of the business and its bright future as we lead the industry with our next generation of retail software."
Retail Pro International, LLC, is a global leader in Point of Sale, Store Operations, and Back-Office software applications for the specialty retail industry. Through its highly-specialized provider network, Retail Pro is delivered locally and supported regionally through approximately 90 offices worldwide. More than 52,000 retail stores in 86 countries using 18 different languages trust Retail Pro® to manage their operations; from single stores to prestigious, multinational retailers, Retail Pro is the proven global solution for serious retailers worldwide.
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