Retail systems technology provider Torex Retail has acquired EPoS provider KPOS Computer Systems in a deal worth£8.7 million.
KPOS is IBM's largest and most successful retail business partner and has more than 100 customers, including Waterstone's, Virgin Megastore, Focus DIY and Millets.
According to Torex Retail chief executive Mark Pearman, the acquisition will benefit customers of both companies. 'This is a good fit. Although there is some overlap, KPOS has a significant customer base of department stores, whereas we are strong in the food sector,' he said.
Pearman said the KPOS name will disappear, although the company and its 70 staff will remain at Langley in Berkshire. 'We intend to cross-sell and up-sell to KPOS customers, particularly in loss prevention, basket analysis tools, and performance and production management tools,' he said.
Kilrush Consultancy managing director Connie Penn said: 'It's a shame. There are so few small independents now. With KPOS it was possible to get access to key people very easily; with a larger company like Torex, that is not so easy.'
Formed in 1976, KPOS was privately owned and reported revenues of£9.5 million in the year to March this year, with a profit before tax of£800,000. The company has extensive experience in the integration of large EPoS systems as well as provision of business intelligence and data warehousing tools.
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