Atlanta-based retail technology provider Aptos has acquired Icelandic software firm LS Retail for an undisclosed sum.
LS Retail develops software for retail, hospitality, food service and other sectors, offering inventory planning, point of sale and enterprise resource planning in on solution. Based in the Icelandic capital of Reykjavik, the company’s software is installed through channel partners at 80,000 sites in 140 countries. It employs 250 people across offices in Asia, Europe, the Middle East and North America.
Aptos, which is headquartered in Buckhead and counts more than 1,000 brands as customers across 65 countries, is an expert in software as a service, providing what it calls a “unified commerce” experience for retailers in need of a streamlined platform as commerce goes increasingly digital.
LS Retail Magnus Norddahl said the pandemic has accelerated “amplified or accelerated existing realities.”
“Digitalization has become even more urgent than before, and the need for unified commerce solutions is more compelling than ever. This puts LS Retail and Aptos in a prime position to increase market share and help more customers around the world,” Mr. Norddahl said.
Until the transaction closes in February, LS will operate as an independent subsidiary of Aptos.