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Retalix Acquires Cornell Mayo Associates, A Leading Provider Of Store Systems For Top Tier Department Stores

Stocks in this article: RTLX

With this acquisition Retalix continues to execute on its strategy and expands into high volume high complexity adjacent retail segments. Key Cornell Mayo customers include household names such as Saks Fifth Avenue and Barnes & Noble.

RA'ANANA, Israel, Sept. 5, 2012 (GLOBE NEWSWIRE) -- Retalix® Ltd. (Nasdaq:RTLX), a leading global provider of software and services for high volume, high complexity retailers, today announced that it has acquired Cornell Mayo Associates ("Cornell Mayo"), a U.S. based, leading provider of store systems serving top tier department stores and large specialty retailers.

Cornell Mayo, which was founded in 1981 and is deployed in nearly 4,000 stores, primarily in North America, will become a Retalix business unit and Retalix's center of excellence for the department store retail segment. Gene Cornell, its founder, will continue to lead the business, which will retain its name and continue to provide the same superb level of service Cornell Mayo customers have come to expect.

"As we have previously communicated, expansion into adjacent retail segments is a stated Retalix growth engine. This acquisition is yet another demonstration of Retalix's strong focus on executing its strategy and is an additional milestone towards the realization of our long-term business goals," says Shuky Sheffer, CEO of Retalix. "Retalix will benefit from Cornell Mayo's deep domain expertise and longstanding relationships with top tier retailers, including such household names as Saks Fifth Avenue, Belk, Stage Stores and Barnes & Noble."

"Cornell Mayo is likely to immediately benefit from synergies with Retalix," says Gene Cornell, President of Cornell Mayo. "While we will continue to service our customers and nurture our deep, long-lasting customer relationships, I believe Retalix' complementary, industry leading software and services offerings, financial depth and global reach will open up a world of opportunities for Cornell Mayo employees and customers alike."

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