BASINGSTOKE, England--(BUSINESS WIRE)--Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd. [TYO:6457] announces plans to acquire 100% of the issued share capital of Flooid, a leader in cloud-based unified commerce software to the retail industry, from Inflexion Private Equity Partners.
Headquartered in Coventry, UK with operations in the USA, Flooid focusses on helping retailers deliver seamless experiences across all customer touchpoints with a powerful cloud-native, hardware-agnostic, unified commerce platform. Driving traditional point of sale, self-checkout, mobile POS, self-order and pay kiosks and convertible lane from a single platform, Flooid's software handles pricing, payment, receipts, taxation, promotions, coupons, orders, deliveries, and more, regardless of store format or segment.
Recognized by industry analyst IDC as a "Major Player"1., Flooid has existing clients across Europe, North America and South Africa including M&S, John Lewis Partnership, Walgreens, Hudson News, Pick'n'Pay and Woolworths.
Speaking about the acquisition Akihiro Harada, Chairman and Chief Executive Officer at Glory Global Solutions said, "The acquisition of Flooid will be a significant strategic step for Glory. Their core value proposition for retailers around enhancing operational efficiency, reducing cost, delivering a seamless customer experience and having a positive environmental effect are in lock-step with those of Glory's existing solutions. The addition of Flooid will build not just on our present retail solutions portfolio, it will expand our annuity revenue streams driven by their software as a service business model."
Motozumi Miwa, President of GLORY LTD. said, "The investment to acquire Flooid is another step in the execution of Glory's Long-Term Vision and is directly aligned with the company's diversification beyond cash and growth strategy. Glory's global presence and existing relationships with major retailers around the world will help open up new markets for the Flooid solution and power the next phase of growth for both companies."
Diane Palmquist, CEO of Flooid commented. "Joining Glory will be an exciting step in our journey to reach more retailers with our unified commerce platform. Becoming part of a large global ecosystem extends the reach of our solutions into new markets and Glory brings us new solutions to offer those retailers."
The Acquisition is subject to the approval of Flooid's shareholders and the conclusion of the share purchase agreement.
- IDC's MarketScapeWorldwide POS Software Vendors in Grocery & Food Retail Vendor Assessment 2022
About GLORY
As a global leader in cash technology solutions, we provide the retail, QSR, financial, cash center and gaming industries with confidence that their cash is protected and always working to help build a stronger business.
Our cash automation technologies and process engineering services help businesses in more than 100 countries optimize the handling, movement and management of cash. While we span the globe, we personally engage with each customer to address their unique challenges and goals - enhancing staff efficiency, reducing operating costs and enabling a more rewarding customer experience.
Employing around 11,000 professionals worldwide with dedicated R&D and manufacturing facilities across the world, GLORY is built on a rich customer-focused, technology-driven heritage spanning more than a hundred years.
For further information please visit www.glory-global.com or follow us on Twitter: http://twitter.com/glory_global.
About Flooid
Flooid helps retailers create the seamless shopping experiences customers demand.
Flooid's unified commerce platform empowers merchants to sell to customers flexibly and consistently wherever they are and however they choose to shop. Our best of breed open ecosystem givers retailers the power to connect leading retail tech partners with a single unified commerce platform to engage with your shoppers, sell more effectively across channels and adapt to retail shopping changes we have yet to imagine.
Contacts
Paul Race
Vice President Strategic Marketing
+44 (0)7887 052 366
