Retail software firm Aptos is to acquire LS Retail, an Icelandic developer and provider of all-in-one software for retail, hospitality, food service, pharmacy and forecourt businesses.

The combination of Atlanta, Georgia, based Aptos and LS Retail could create a retail technology powerhouse that can support retailers across all tiers, verticals and geographies with commerce technology. Pending the deal’s culmination, which is expected next month, LS Retail will operate as a stand-alone business unit within Aptos.

LS Retail’s products are sold, implemented and supported through a global network of channel partners servicing more than 80,000 customer sites in over 140 countries. Its customer base spans fashion boutiques, electronics stores, furniture giants, duty-free chains, restaurants, hotels, pharmacies, coffee shops, petrol stations, convenience stores and more.

The union of the two companies creates a community whose collective breadth and depth of retail experience will be leveraged to share best practices for addressing retail transformation and industry complexities.

LS Retail’s software – including PoS, ERP and inventory planning software – was developed for retail, hospitality and food service businesses, empowering them with intelligence, actionable insights and functionality. Built on Microsoft technology, LS Retail’s offerings are available as software-as-a-service (SaaS) in the public Microsoft cloud.

“LS Retail is an exceptionally run organisation with world-class products, a growing and diverse customer base, and a strong network of nearly 400 local partners,” said Aptos CEO Pete Sinisgalli. “The addition of a company of LS Retail’s calibre to the Aptos family allows us to better fulfil our mission of delivering tangible benefits to our customers and the retail industry we serve, as it broadens our knowledge base and resources, extends our vertical capabilities, and expands our geographic coverage.”

Upon the acquisition’s close, Sinisgalli said he looked forward to providing Aptos’ full support, scale and capital resources to the LS Retail leadership team, allowing them to take the business to new heights.

LS Retail’s management team is led by Magnus Norddahl, who serves as the company’s CEO and has over 30 years of management experience in the software, IT, pharmaceutical and banking industries.

“The pandemic has amplified or accelerated existing realities,” said Norddahl. “Businesses always have been, and always will be, dealing with change; they need solutions that provide visibility, knowledge and predictable outcomes. Digitalisation has become even more urgent than before, and the need for unified commerce 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.”

Norddahl said he was optimistic that Aptos, with its deep domain expertise in SaaS and omnichannel transformation for retail, had chosen to partner with LS Retail to accelerate its growth trajectory.

“We are excited about the journey that lies ahead for both us and our exceptional partner community,” Norddahl said.

Based in Iceland, LS Retail has offices in Asia, Europe, the Middle East and North America and approximately 250 employees.