Joint Venture to Serve Independent Grocers

DALLAS & PLANO, Texas - Fujitsu Transaction Solutions Inc. and Retalix Ltd. have established StoreNext Retail Technologies LLC, a joint venture combining the two companies' expertise in point-of-sale hardware, software and Internet-based store management solutions, for independent grocers.

The new Dallas-based company, which begins operations immediately, is to be owned equally by Fujitsu Transaction Solutions Inc. and Retalix Ltd. The companies have a working partnership spanning 20 years.

Austen Mulinder, president and CEO of Fujitsu Transaction Solutions Inc., and Barry Shaked, president and CEO of Retalix Ltd., will head up the company as chairman and CEO respectively. Bruce Minale, formerly Fujitsu's vice president of retail indirect sales, has been named general manager of StoreNext and will be responsible for day-to-day operations.

"The benefits of this partnership for independent retailers and the dealers that serve them will be enormous," Mulinder said. "Two market leaders have joined to provide a one-stop-shop for the total supermarket solution. Our customers will be able to improve their business differentiation, while driving costs out of their store operations. For dealers and wholesalers, this single company with a single point of contact will mean faster sales, more tightly integrated and reliable products, lower support costs and better service -- all resulting in lower total cost of ownership for customers."

Barry Shaked said, "Our vision for the independent grocery market is to provide Web-based access to store management applications that until now have been affordable only to the largest chains."
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