Priority Software Acquires Israel-Based Edea
Purchase will enable Priority to enhance its ERP product offering in retail with Edea’s robust UNIFIED COMMERCE solution based on headless commerce approach
Priority Software Ltd., a leading global provider of ERP solutions, owned by TA associates and Fortissimo Capital, today announced the expansion of its retail ERP solutions offering with the acquisition of Edea AMC Ltd., an Israel-based provider of an innovative UNIFIED COMMERCE solution, that enables retailers to deliver an advanced Omnichannel customer experience.
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The acquisition will enable Priority customers around the world to benefit from Edea’s end-to-end Retail Management System (RMS). Fully based on the Priority ERP platform, Priority retail customers will enjoy a wide range of solutions to effectively manage and control online and offline sales, including comprehensive management of their entire supply chain, front- and back-end processes, financials, and more. Further, this acquisition will help accelerate the distribution and deployment of the unified retail solution into new international markets, with the support of Priority’s global partner ecosystem that operates in over 40 countries, including the US and UK.
While most of the solutions in the retail market require integrations between an ERP system and various stand-alone systems, such as point-of-sale, e-commerce, or customer loyalty programs to effectively manage the supply chain, now fully based on Priority ERP, these and other key functionalities will enhance the overall user experience – all from a single platform. Priority’s retail customers will benefit from a holistic real-time view of their operations, a single data set with no need for interfaces, to improve consumers’ purchasing experience, in-store, and online.
Developed by Edea on the Priority platform, the UNIFIED COMMERCE solution is currently deployed by hundreds of leading retail chains throughout Israel, such as Castro, Renuar, Kravitz, Mega Sport, the Israel National Parks Authority, and many others. Edea’s solution is also used by hundreds of shops of Israeli franchisees of international brands, including Estée Lauder, MAC Cosmetics, Clinique, Bobbi Brown, Superdry, Desigual, Swatch, TOUS, Carters, Columbia, Aldo, Steve Madden, Replay, Sketchers, Impress, ACE, Auto Depot, KIKO Milano, Yves Rocher, Keds, Nintendo, Heinemann, James Richardson Duty Free, and more.
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The merger of Priority and Edea will facilitate accelerated distribution of the common solution to additional markets with the support of Priority’s global partner network, and to further develop the product for retail chains in other key sectors.
The acquisition of Edea follows Priority Software’s purchase of Belgium-based Optimize Group in 2019, US-based Acclivity in 2018, Israel-based Monitin Information Systems’ ERP activity in 2017, and the purchase of US-based ERP consulting and services firm, Performa Apps in 2016. This acquisition is in keeping with Priority’s company strategy, and represents a significant step in enriching and expanding its product portfolio on a global scale. Closing is subject to customary closing conditions, and is expected in March 2021.
“We are seeing how the global retail market is consistently changing, evolving, and relying more and more on advanced technologies in both the back- and front end,” said Andres Richter, CEO of Priority Software. “To support this market’s dynamic needs, namely the synergy between in-store and e-commerce activities, backed by multi-channel operational management, merging Edea solutions with Priority ERP, will give our customers a uniquely tailored response to meet their business needs. This is a tremendous opportunity for us to expand our presence in the retail sector and offer customers unified management and control of their operations, logistics, sales, and employees, that in turn, will enhance consumers’ shopping experience.”
Shlomit Pinkas Elkayam, CEO of EDEA, commented, “Following a long standing and fruitful partnership with Priority Software, joining forces, and combining our expertise, is a natural evolution, and we are excited to work together to enhance Priority’s product offering. With the many challenges of the pandemic, the retail and restaurant sectors have undergone significant change. In its initial phase, we witnessed a massive surge in online activity, and today, the market is preparing itself for the reopening of retail outlets and restaurants. Today, a multi-channel commerce management system demands a robust back-end, matched with smart operations, fast response, and creativity. With Priority, we know we can deliver what our customers need, not only today, but well into the future. Over the years, Priority and Edea have consistently proven their growth capabilities, and I am excited about the opportunities that await us when we work together as a single entity, supported by Priority’s entire partner network. ”
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