RedPrairie Corp., a transportation, inventory, and workforce productivity software developer, announced yesterday that it had acquired SofTechnics, a provider of retail enterprise solutions. Terms of the transaction were not disclosed.
SofTechnics, based in Akron, Ohio, provides mobile price and inventory management services to grocery and general retailers and counts as its customers about one-third of the country's top 75 supermarket chains. RedPrairie said in a statement that the acquisition will allow it to expand its existing retail platform.
In the statement, RedPrairie CEO Mike Mayoras said SofTechnics' experience in the retail category will "provide a new wealth of knowledge to RedPrairie's already successful operations within this space."
RedPrairie is privately held and owned by New Mountain Capital LLC, a New York-based private equity firm. RedPrairie is based in Alpharetta, Ga.**An earlier version of this story identified RedPrairie's headquarters as Waukesha, Wis. RedPrairie moved its headquarters in October 2010.