By ET Bureau - January 14, 2020 2 Mins Read
Aptos announced that funds affiliated with the Merchant Banking Division of Goldman Sachs have reached a definitive agreement to acquire the company from funds advised by Apax Partners (the “Apax Funds”). Aptos, Inc., a recognized market leader in retail technology solutions, delivers innovative, cloud-native and comprehensive omnichannel solutions to more than 1,000 retail brands in 65 countries.
The Apax Funds backed Aptos CEO Noel Goggin to spin-out the business from the portfolio company, Epicor, in 2015. Since then, Aptos has thrived as an independent company has more than doubled its customer base to become one of the largest global enterprise software providers focused exclusively on retail. In addition, the Apax Funds supported Aptos on a number of strategic acquisitions which strengthened Aptos’ presence in Europe and extended its product capabilities.
“Aptos is looking forward to the next stage in our growth and maturation journey in partnering with Goldman Sachs, a group that brings a wealth of enterprise software expertise, commercial relationships, and vast global resources,” said Noel Goggin, Aptos CEO, and culture leader. “We are also grateful for the strong partnership and strategic support Apax has provided over the past four and a half years.”
“When evaluating the retail software market, it became apparent that Aptos is a leader in delivering differentiating and built-for-the-future innovation,” said Will Chen, Managing Director at Goldman Sachs.
“With the strength of Aptos’ executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions,” Chen said. “We look forward to helping the company further scale the product innovations, customer success initiatives and global market expansions that have been hallmarks of Aptos’ preeminence to date.”
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