With this acquisition Retalix
continues to execute on its strategy and expands into high volume
high complexity adjacent retail segments. Key Cornell Mayo
customers include household names such as Saks Fifth Avenue and
Barnes & Noble.
Retalix® Ltd. (Nasdaq:RTLX), a leading global
provider of software and services for high volume, high complexity
retailers, today announced that it has acquired Cornell Mayo
Associates ("Cornell Mayo"), a U.S. based, leading provider of
store systems serving top tier department stores and large
specialty retailers.
Cornell Mayo, which was founded in 1981 and is deployed in
nearly 4,000 stores, primarily in North America, will become a
Retalix business unit and Retalix's center of excellence for the
department store retail segment. Gene Cornell, its founder, will
continue to lead the business, which will retain its name and
continue to provide the same superb level of service Cornell Mayo
customers have come to expect.
"As we have previously communicated, expansion into adjacent
retail segments is a stated Retalix growth engine. This acquisition
is yet another demonstration of Retalix's strong focus on executing
its strategy and is an additional milestone towards the realization
of our long-term business goals," says Shuky Sheffer, CEO of
Retalix. "Retalix will benefit from Cornell Mayo's deep domain
expertise and longstanding relationships with top tier retailers,
including such household names as Saks Fifth Avenue, Belk, Stage
Stores and Barnes & Noble."
"Cornell Mayo is likely to immediately benefit from synergies
with Retalix," says Gene Cornell, President of Cornell Mayo. "While
we will continue to service our customers and nurture our deep,
long-lasting customer relationships, I believe Retalix'
complementary, industry leading software and services offerings,
financial depth and global reach will open up a world of
opportunities for Cornell Mayo employees and customers alike."
Cornell Mayo's market leadership is well recognized – seven of
the top 21 department stores in the U.S. are Cornell Mayo
customers. In the 2011 RIS Software LeaderBoard, Cornell Mayo
ranked #1 in 22 of 25 total categories – more top rankings than any
other vendor in the list – for the second year in a row, a strong
demonstration of how Cornell Mayo's customers value the support and
service they receive from the company.
"We are very happy that we were able to bring this great company
into our fold," Sheffer said. "We are fully committed to Cornell
Mayo's existing customers and will work hard to ensure they gain
significant advantage from this move. Further, we look forward to
opening up new opportunities for Cornell Mayo both in North America
and globally. We have said previously that we will support our
strategy with targeted acquisitions and we expect to keep doing
this as we move forward."
About Cornell Mayo Associates
Founded in 1981, Cornell Mayo Associates has developed a proven
track record as a POS software provider, with a 100% success rate
in store system implementations. The company's solutions have
gained the faith of some of the industry's best-known and most
prestigious department store, high service and specialty retailers,
including Barnes & Noble, Belk Department Stores, Bergdorf
Goodman, Boscov's Dept. Stores, Eileen Fisher, Last Call, Liquor
Control Board of Ontario, Neiman Marcus, New Brunswick Liquor
Corporation, Saks Fifth Avenue, Off 5th and Stage Stores.
About Retalix
Retalix is a leading global provider of innovative software and
services for high volume, high complexity retailers, including mass
merchants, supermarkets, grocery and convenience stores, fuel
stations, drugstores and department stores. Its product and service
offerings help customers manage and optimize retail and supply
chain operations, differentiate their brand and build consumer
loyalty, while providing retailers with the flexibility and
scalability to support ongoing business transformation and
growth.
The company offers software solutions for POS (Point Of Sale),
store, sales channel (including mobile and e-commerce), customer
and marketing, merchandising and logistics management. Leveraging a
multitude of deployment options, including cloud-based SaaS
(Software-As-A-Service) delivery, Retalix serves a large customer
base of approximately 70,000 stores, operating in excess of 400,000
checkout lanes, across more than 50 countries worldwide.
The company is headquartered in Ra'anana, Israel, with North
American headquarters located in Plano, Texas. Retalix stock trades
on NASDAQ and the Tel Aviv Stock Exchange.
For more information, visit http://www.retalix.com, the contents
of which are not part of this press release. Follow Retalix on
Twitter: @Retalix.
Retalix is a registered trademark of Retalix Ltd. in the United
States and in other countries. Other company, product, service and
brand names mentioned herein may be trademarks or registered
trademarks of their respective owners.
The Retalix Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=5937
Retalix safe harbor for forward-looking
statements: except for statements of historical fact, the
information presented herein constitutes forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 and other U.S. federal securities laws. For example, the
statements regarding the successful combination of Retalix and
Cornell Mayo Associates solutions and customers' future benefit
from such combination include forward-looking statements. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of Retalix, including
revenues, income and expenses, to be materially different from any
future results, performance or achievements, or other guidance or
outlooks expressed or implied by such forward-looking statements.
Such factors include risks relating to Retalix's and Cornell Mayo
Associates's anticipated future financial performance and growth,
continued rollouts with existing customers, continued interest in
Retalix's products, perception by leading retailers of Retalix's
and Cornell Mayo Associates's reputation, potential benefits to
retailers, expansion into new geographic markets and other factors
over which Retalix may have little or no control. This list is
intended to identify only certain of the principal factors that
could cause actual results to differ. Readers are referred to the
reports and documents filed by Retalix with the Securities and
Exchange Commission, including Retalix's Annual Report on Form 20-F
for the year ended December 31, 2011, for a discussion of these and
other important risk factors. Except as required by law, Retalix
undertakes no obligation to publicly release the results of any
revisions to these forward-looking statements, that may be made to
reflect events or circumstances after the date hereof, or to
reflect the occurrence of unanticipated events.
CONTACT: For corporate affairs:
Sarit Sagiv
Retalix Ltd.
+972-9-776-6618
Investors@retalix.com