Cleveland, Ohio - Datavantage Corporation, a wholly-owned subsidiary of MICROS Systems, Inc. (NASDAQ: MCRS), and a leading provider of retail technology for the specialty and general merchandise retail industry, announced today the acquisition of CommercialWare, Inc., an award-winning provider of cross-channel retail solutions. Headquartered in Natick, MA, CommercialWare will operate as a division of Datavantage. The acquisition does not include ComercialWare's subsidiary OrderMotion. Serving a combined customer base of over 400 brands and retailers, Datavantage and CommercialWare share and deliver complementary solutions to many common customers.
The purchase price of the acquisition is $13.2 million. MICROS will pay cash for the transaction which will be treated as a stock based acquisition for accounting purposes.
Datavantage currently supports retailers with a variety of field management solutions, including store systems, business analytics, and marketing applications. CommercialWare's comprehensive portfolio of software products provides cross-channel infrastructure linking all aspects of the transaction lifecycle, and allows retailers to efficiently deliver a channel transparent experience to their consumers. Datavantage will immediately integrate CommercialWare's extensive cross-channel and direct-to-consumer offerings into the Datavantage product line, enabling retailers to benefit from the efficiencies and results of synchronized channels delivered from a single solution provider.
"Our customers have shown us that a multi-channel strategy is key to their growth. We agree," said Chaz Napoli, President, Datavantage. "This acquisition is a perfect fit as it pairs us with the CommercialWare organization, the clear leader in the market for cross-channel solutions. This expertise allows us to extend our applications into the direct-to-customer channels and round out our retail solution set with cross-channel offerings."
"As a division of Datavantage, we are able to accelerate the delivery of cross-channel solutions as well as extend our reach in the market," said Jane Cannon, newly appointed Chief Operating Officer of Datavantage's CommercialWare division. Ms. Cannon brings over 20 years of leadership experience working at CommercialWare, most recently serving as Senior Vice President of Research and Development.
CommercialWare Inc. develops cross-channel commerce infrastructure solutions that allow retailers and direct marketers to optimize transactions from all customer touch points. CommercialWare's comprehensive portfolio of products seamlessly links all aspects of the transaction lifecycle through point-of-sale, back-office, order management, fulfillment, customer service, collaboration, and analytics applications. The organization offers a confluence of multi-channel solutions that power many of the leading retail brands, including Abercrombie & Fitch, Party Land, Chico's, J.Jill, Ritz Camera, Jos. A. Bank, and Patagonia. CommercialWare had been owned by Capital Resources Partners, a private equity investment firm. For more information on CommercialWare visit www.commercialware.com .
Founded in 1988, Datavantage Corporation is a retail technology company that helps retail chains, worldwide, gain competitive advantage with complete field management retail solutions. Designed to thrive in an ever changing environment, the solution set consists of open, Java-based store systems, analytics, and marketing applications, Microsoft Windows®-based POS, and professional services. Headquartered in Cleveland, Ohio, USA, Datavantage is a subsidiary of MICROS Systems, Inc. (NASDAQ: MCRS). Learn more at www.datavantagecorp.com.