Net profit dropped in 2004
Retalix to purchase 2 U.S. companies
Software company’s revenues increased by 35.1 percent in 2004; Citigroup Global Markets Inc. served as financial advisor on both deals
Ra'anana-based software company Retalix Ltd. is acquiring two U.S. retail-software companies for an estimated USD 78.7 million.
Retalix (NasdaqNM:RTLX), an independent provider of integrated enterprise-wide software solutions for the global retail food and fuel industries, announced it is acquiring U.S.-based retail management software companies Integrated Distribution Solutions LLC. (IDS) and TCI Solutions Inc.
The acquisition of IDS is expected to cost Retalix USD 44.4 million, while TCI’s price tag is USD 34.3 million.
The investment house of Citigroup Global Markets Inc., formerly known as Salomon Smith Barney Inc., acted as financial advisor Retalix on both deals.
Retalix finished 2004 with USD 124.4 million in revenues – a 35.1 percent increase from 2003. The company’s net profit reached USD 6 million in 2004, marking a 28 percent drop from USD 8.3 million in 2003.
