Leading retail technology provider Torex Retail Holdings is to be acquired by Micros Systems, which provides enterprise applications for the hospitality and retail industries in more than 180 countries, and on all seven continents.
The acquisition of Torex, which has operations in the UK, Germany, Belgium, Netherlands, the Nordics, and the US, reflect’s Micros’s long-term strategy to grow its retail presence in Europe.
Steve Rowley, chief executive officer of Torex, said: “This is a great deal for both companies, and reflects the transformation which has taken place at Torex as a result of our employees’ hard work and commitment over the past few years.
“Together, we are positioned to provide our customers with a large portfolio of innovative technology which supports our customers’ business needs.”
Micros systems are currently installed in table and quick-service restaurants, hotels, motels, casinos, leisure and entertainment, and retail operations. Torex provides outlet and head-office technology through a mix of software, hardware, consultancy, implementation and maintenance and services.
Torex’s technology portfolio ranges from Point-of-Sale to solutions which address merchandise planning, business analytics, loss prevention and multi-channel trading, as well as more consumer-facing solutions for e-commerce, vouchering, loyalty programmes and integration with social media networks.
Micros will use Torex’s presence in the convenience and fuel market in Europe as a foothold for further expansion. Torex’s experienced retail division and the retail sales force in the UK and Europe will help the company increase its presence and sales growth potential outside North America. In addition to the continued investment in market leading technology, customers will benefit from the extended product and professional service portfolio of the combined group.
The completion of the acquisition is dependent on approval from a number of governmental regulatory bodies in Germany and Norway.
Kaweh Niroomand, president of Micros-Fidelio in Europe, Africa and the Middle East for MICROS Systems Inc, said: “This is very exciting news for our industry and particularly for Micros and Torex customers. More so than ever, technology innovation and efficiency are fundamental to business success and this acquisition will allow us to deliver a broader range of products and services to new and existing customers.”