Retalix Acquires MTXEPS for $18.95M in Cash

Retalix® RTLX today announced that it has acquired MTXEPS, LLC. ("MTXEPS"), a provider of innovative, secure, end-to-end electronic payment software solutions for retailers, delivered via SaaS and in-store models. MTXEPS is a privately held, US-based, fast growing and profitable company with solutions deployed directly, or through partner channels (including Retalix), in over 20,000 stores in North America. Retalix has acquired all of MTXEPS' shares for approximately $18.95 million in cash. Additional cash consideration of up to $6 million may be paid over the course of the next two years based on the achievement of certain performance metrics. "With MTXEPS's 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," said Shuky Sheffer, Retalix CEO. "SaaS is one of our growth engines, and MTXEPS's SaaS platform and offerings enhance our position in this rapidly evolving space." MTXEPS's market leading payment engine, by seamlessly integrating with a large variety of Point of Sale systems (POSs), PIN pads and payment processors, provides retailers with unparalleled choice and flexibility to respond to the needs of the fast evolving payments space. Retailers are empowered to rapidly accept new payment types, such as mobile and contactless, address emerging players, and to put in place rich payment programs quickly and efficiently. MTXEPS's offering also includes smart routing, and central configuration management monitoring and control, and enables retailers to be fully current with industry (PCI – payment card industry) regulatory requirements, while at the same time reducing total cost of implementation and ownership. "We've had a very successful partnership with Retalix in the US since 2004, and this acquisition is definitely a win-win for both Retalix and MTXEPS employees, customers and partners," said Jon Elwood, President of MTXEPS. "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 will continue to 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."