France's Cegid announces the acquisition of the British company StorIQ
French software vendor Cegid has acquired UK-based retail tech firm StorIQ, a London-based company that counts Hugo Boss, M&S, Mountain Warehouse and Douglas among its clients.
StorIQ’s co-founder and MD Amy Bastow and all the company’s staff will be joining the Cegid Retail Business Unit headed by Nathalie Echinard.
The purchase boosts Cegid’s “position as leader in retail POS solutions in France and worldwide”, the company said.
StorIQ targets retailers with between 50 and 2,000 stores and currently has around 50 clients, some of which have deployed its solutions globally. Those solutions currently support over 11,000 stores in more than 50 countries.
The platform streamlines store activity planning and boosts productivity.
Cegid itself has 1,000 retailers running its own retail solutions in 75 countries and is helping speciality retailers and luxury brands transition to digital.
The company said its Cegid Retail unified commerce platform “makes it possible to deliver an outstanding tailor-made shopping experience in stores worldwide”.
It’s not hard to see therefore how StoreIQ will fit into its mix and it said that the acquisition means its combined platform “will now be able to cover all aspects of POS management”.
Cegid CEO Pascal Houillon said: “More than ever, the future of bricks-and-mortar stores will depend on the ability of retailers to accelerate and adapt so as to offer outstanding customer experiences as well as innovative and convenient services — while simplifying and monitoring in-store team task management.
“By capitalising on the current offerings of Cegid and StorIQ, brands and retailers will be able to offer an exceptional unified shopping experience across their entire store network while tapping into new sales opportunities. Our current and future customers will be able to benefit from the optimised POS activity management offered by StorIQ paving their way to success. That’s what Retail the New Way is all about.”
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