Retalix Ltd. Signs Memorandum of Understanding to Acquire BASS Inc.
RA'ANANA, Israel--(BUSINESS WIRE)--Aug. 22, 2001--Retalix Ltd. (Nasdaq: RTLX - news), today announced the signing of a memorandum of understanding to acquire all the outstanding shares of capital stock of privately held BASS Inc. of Dayton, Ohio.
BASS is a market-leading provider of retail automation technology, primarily to tier-two grocery operators. Under the terms of the agreement, Retalix will acquire both the company's assets and marketing rights to the entire BASS product line.
The acquisition will allow Retalix to leverage BASS's strong installed base among tier-two operators. Tier-two grocery retailers are traditionally classed as those with annual revenues in the $500 million to $4 billion range and a chain size of 120 stores or less.
BASS Inc. was formed in 1979 and has developed a variety of full-featured applications designed specifically for the supermarket retail industry. The company's product range encompasses single in-store components, host support solutions and point-of-sale. BASS applications are installed in more than 3,500 retail sites in the U.S. Clients include national chains such as Hy-Vee Foods, Whole Foods and IGA Supermarkets.
Retalix is the leading independent supplier of enterprise software systems to the grocery and convenience store market, with worldwide installations in excess of 15,000 stores. The company is a dominant player with large customers such as Albertson's, Tesco and Ikea, and maintains a current ship share of more than 70 percent with the small chain sector and independent store market.
``This acquisition has the potential to extend Retalix's position as the leading provider of hardware-neutral, host-to-post software solutions across every tier of the North American grocery market,'' said Barry Shaked, CEO of Retalix Ltd.
``BASS has a strong customer base with medium sized grocery chains that will strengthen our market position. BASS's strength with Host and Back Office applications, combined with our proven front-end solutions, will allow our grocery customers to benefit from best-of-breed applications throughout the enterprise. In addition, BASS's team of experienced people and strong suite of software products will contribute to our progress in bringing the advantages of Web-based applications and e-marketplace architecture to the entire food retail environment.''
BASS is a market-leading provider of retail automation technology, primarily to tier-two grocery operators. Under the terms of the agreement, Retalix will acquire both the company's assets and marketing rights to the entire BASS product line.
The acquisition will allow Retalix to leverage BASS's strong installed base among tier-two operators. Tier-two grocery retailers are traditionally classed as those with annual revenues in the $500 million to $4 billion range and a chain size of 120 stores or less.
BASS Inc. was formed in 1979 and has developed a variety of full-featured applications designed specifically for the supermarket retail industry. The company's product range encompasses single in-store components, host support solutions and point-of-sale. BASS applications are installed in more than 3,500 retail sites in the U.S. Clients include national chains such as Hy-Vee Foods, Whole Foods and IGA Supermarkets.
Retalix is the leading independent supplier of enterprise software systems to the grocery and convenience store market, with worldwide installations in excess of 15,000 stores. The company is a dominant player with large customers such as Albertson's, Tesco and Ikea, and maintains a current ship share of more than 70 percent with the small chain sector and independent store market.
``This acquisition has the potential to extend Retalix's position as the leading provider of hardware-neutral, host-to-post software solutions across every tier of the North American grocery market,'' said Barry Shaked, CEO of Retalix Ltd.
``BASS has a strong customer base with medium sized grocery chains that will strengthen our market position. BASS's strength with Host and Back Office applications, combined with our proven front-end solutions, will allow our grocery customers to benefit from best-of-breed applications throughout the enterprise. In addition, BASS's team of experienced people and strong suite of software products will contribute to our progress in bringing the advantages of Web-based applications and e-marketplace architecture to the entire food retail environment.''