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RA'ANANA, Israel -- Retalix, a global provider of software and services to high-volume, high-complexity retailers, acquired MTXEPS LLC, a provider of end-to-end electronic payment software solutions for retailers, delivered via software-as-service (SaaS) and in-store models, Retalix announced. Currently the privately held, U.S.-based MXTEPS deploys solutions directly or through partner channels to more than 20,000 North American stores.
Retalix acquired all of MXTEPS' shares for approximately $18.95 million in cash, according to the announcement. Additional cash consideration of as much as $6 million may be paid over the next two years depending on the achievement of certain performance metrics.
"With MTXEPS' premier electronic payment software solutions and large satisfied customer base, we enhance our market leadership in offering retailers comprehensive, advanced solutions across all customer touch points and sales channels," stated Retalix CEO Shuky Sheffer. "SaaS is one of our growth engines, and MTXEPS' SaaS platform and offerings enhance our position in this rapidly evolving space."
MTXEPS' payment engine integrates with a large variety of point-of-sale systems, PIN pads and payment processors to provide retailers with choice and flexibility to respond to the needs of the fast-evolving payments space, according to the announcement. Retailers can rapidly accept new payment types such as mobile and contactless; address emerging players; and put rich payment programs in place quickly and efficiently. MTXEPS also includes smart routing and central configuration management monitoring and control, while enabling retailers to be fully current with industry regulatory requirements, including PCI compliance, at the same time reducing total cost of implementation and ownership.
"We've had a very successful partnership with Retalix in the U.S. since 2004, and this acquisition is definitely a win-win for both Retalix and MTXEPS employees, customers and partners," said MTXEPS President Jon Elwood. "As our solutions become part of the Retalix offering, we strongly believe that our customers and partners will benefit from Retalix's culture of innovation, global presence and strong financial position."
Retalix will continue to nurture strong relationships with all MTXEPS customers and partners, and invest in innovative payment software solutions and attentive support, added Sheffer. "We are committed to the success of our customers and partners, as well as to the spirit of the business collaboration that MTXEPS has had with its partners and customers to date."