GLORY to acquire Flooid

Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd. [TYO:6457] announces plans to acquire 100% of the issued share capital of Flooid, a leader in cloud-based unified commerce software to the retail industry, from Inflexion Private Equity Partners.

Headquartered in Coventry, UK with operations in the USA, Flooid focusses on helping retailers deliver seamless experiences across all customer touchpoints with a powerful cloud-native, hardware-agnostic, unified commerce platform. Driving traditional point of sale, self-checkout, mobile POS, self-order and pay kiosks and convertible lane from a single platform, Flooid’s software handles pricing, payment, receipts, taxation, promotions, coupons, orders, deliveries, and more, regardless of store format or segment.

Recognized by industry analyst IDC as a “Major Player”^1., Flooid has existing clients across Europe, North America and South Africa including M&S, John Lewis Partnership, Walgreens, Hudson News, Pick’n’Pay and Woolworths.

Speaking about the acquisition Akihiro Harada, Chairman and Chief Executive Officer at Glory Global Solutions said, “The acquisition of Flooid will be a significant strategic step for Glory. Their core value proposition for retailers around enhancing operational efficiency, reducing cost, delivering a seamless customer experience and having a positive environmental effect are in lock-step with those of Glory’s existing solutions. The addition of Flooid will build not just on our present retail solutions portfolio, it will expand our annuity revenue streams driven by their software as a service business model.”

Motozumi Miwa, President of GLORY LTD. said, “The investment to acquire Flooid is another step in the execution of Glory’s Long-Term Vision and is directly aligned with the company’s diversification beyond cash and growth strategy. Glory’s global presence and existing relationships with major retailers around the world will help open up new markets for the Flooid solution and power the next phase of growth for both companies.”

Diane Palmquist, CEO of Flooid commented. “Joining Glory will be an exciting step in our journey to reach more retailers with our unified commerce platform. Becoming part of a large global ecosystem extends the reach of our solutions into new markets and Glory brings us new solutions to offer those retailers.”

The Acquisition is subject to the approval of Flooid’s shareholders and the conclusion of the share purchase agreement.