Otimo Retail, a private investment firm focused on retail technology, has announced the acquisition of XcCommerce effective May 31st, 2019. Financial terms were not disclosed.
Desjardins Capital’s Capital croissance PME backed the acquisition and became a minority shareholder in XcCommerce.
Otimo Retail is an investment vehicle backed by Howard Stotland, Matthew Stotland, and David Henning that provides capital, strategic and operational guidance to small and mid-sized technology providers who develop, market and sell software solutions to retail organizations.
XcCommerce offers world class omni-channel promotion and coupon solutions. The company is proven across a wide range of retail segments, including apparel, grocery, drugstore and hardware. Customers include LBrands, Ascena Group, Metro, Tailored Brands and Lowes Canada.
photo credit: XcCommerce
News Release
ACQUISITION ANNOUNCEMENT: Otimo Retail Acquires XCCommerce Inc.
MONTREAL, QC September 3rd, 2019
Otimo and XCCommerce join forces to empower retailers with unified commerce tools.
Otimo Retail, a Montreal-based private investment firm focused on retail technology, acquired XCCommerce effective May 31st, 2019. XCCommerce empowers top-tier retailers with highly performant omni-channel promotion and coupon solutions. Otimo Retail also benefited from the funding and strategic support of Desjardins Capital as an institutional investor in the acquisition of XCCommerce.
“XCCommerce is the best kept secret in retail systems,” says Otimo partner Howard Stotland. “We were highly impressed by their client base and the quality of both their products and services. As evidenced by their stellar references, XCCommerce clearly delivers tangible business value to their customers. We are thrilled to add them to our portfolio.”
Otimo partner David Henning adds, “XC delivers a solution that provides retailers with a consistent shopping and promotional experience for consumers, irrespective of the channel they choose to shop through.”
“The Otimo leadership is the perfect cultural fit for XC,” says Nabil Tabet, CEO of XCCommerce. “They have a deep understanding of retail, they believe in providing excellent customer service, they value high-calibre employees, and we share a synergetic vision for growing the company.” By joining forces and combining the breadth of their expertise, Otimo Retail and XCCommerce now offer global retailers the power to optimize their promotional and coupon initiatives within a unified commerce approach.
About Otimo Retail:
Otimo Retail, led by Howard Stotland, David Henning and Matthew Stotland, has a long heritage in retail systems and a strong track record as a growth stage investor. Otimo Retail’s current portfolio companies include Storeforce Solutions , Momentis Systems, Logiwa, Fiska and Sonder.
To learn more about Otimo Retail, visit www.otimoretail.com
About XCCommerce:
XCCommerce offers world class omni-channel promotion and coupon solutions. The company is proven across a wide range of retail segments, including apparel, grocery, drugstore and hardware. Customers include LBrands, Ascena Group, Metro, Tailored Brands and Lowes Canada.
Find out more about XCCommerce at www.xccommerce.com
About Desjardins Capital:
Nearly 45 years strong, Desjardins Capital (previously Desjardins Venture Capital) has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.5 billion, Desjardins Capital helps contribute to the longevity of some 500 companies, cooperatives and funds in various sectors across Quebec. In addition to helping create and maintain more than 58,000 jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth.
For more information, visit our website or our LinkedIn page.
Contact:
Diane Neaven
XCCommerce Inc.
diane.neaven@xccommerce.com