13 Dec RedPrairie acquires Denver software company
Milwaukee, Wis. – The opportunity to provide end-to-end approach to retail workforce optimization has convinced RedPrairie Corp. to acquire and the Denver-based StorePerform Technologies, Inc.
The two firms have entered a definitive agreement that will close in the next 20 to 30 days. Financial terms were not disclosed.
With the acquisition, StorePerform will become part of RedPrairie’s retail productivity division, previously known as BlueCube Software. The deal will enable Red Prairie to combine BlueCube’s workforce management suite with StorePerform’s store execution software in what RedPrairie chief executive officer John Jazwiec called an integrated solution.
In the retail industry, task-driven requirements have increased in recent years with the introduction of practices like advanced price optimization and merchandizing solutions that have added to store workloads.
Software products have designed to address these developments, and the combined capabilities of the two software products involved in Red Prairie’s acquisition of StorePerform are employee scheduling, task management, inventory resets, and learning management. Purported benefits include maximizing the performance of store employees and reducing operating costs.
Rob Garf, research director at AMR Research, called the acquisition “one of the more logical and beneficial retail software deals” in 2006. He said combining workforce management and task management assets makes sense for RedPrairie, which now can use its installed base and marketing power to penetrate a relatively immature market.
As part of the agreement, StorePerform President Srikant Vasan will continue to oversee the StorePerform group in Denver, and no “headcount reductions” are planned.
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