Aptos has entered into a definitive agreement to acquire TXT Retail, which will see the inventory management business improve its offering to omnichannel retailers.

The purchase of the lifecycle management solutions company is expected to close in September 2017.

The two companies have a combined customer reach of over 1,000 retail brands. TXT Retail currently serves over 500 retailers including Build-A-Bear Workshop, Dior, Guess, Lacoste, Louis Vuitton, Sephora, Tesco, Urban Outfitters and Zalando.

“Aptos’ planned acquisition of TXT Retail offers retailers a unique enabler in aligning omnichannel strategy with execution, fast-tracking the merchandise lifecycle, optimizing assortments, and ensuring consumer demand is met,” said Noel Goggin, Aptos CEO and culture leader.

Jason Wright, a senior partner at Apax Partners, the private equity firm that owns Aptos, added: “The acquisition delivers value to retailers and to Aptos. In recent years, Aptos has demonstrated its commitment to acquisitions that offer competitive advantage to its customers, by acquiring technologies that advance the realisation of singular commerce and by establishing access to geographic markets in which customers hope to grow. The acquisition of TXT Retail accomplishes both; we are confident that this combination will lead to improved results for the customers and the overall business.”

The deal will expand Aptos’ global presence, with TXT Retail having ten offices and more than 300 staff in Europe, North America and Asia Pacific.

Simone Pozzi, TXT retail CEO, added: “To succeed in today’s demanding retail environment, you must fully understand your customers and profitably align your offerings with their preferences in every channel. The combination of Aptos’ customer engagement prowess with TXT Retail’s integrated, end-to-end merchandise lifecycle management solution will allow retailers to pursue the business transformations that are critical to their success while engaging customers differently, no matter when, where or how they shop.”