With the Acquisition of Cylande Group, Cegid Gives Rise to a World Leader
(7 months ago)
LYON, France: Cegid announces the acquisition of Cylande, a leading provider of software solutions for retail, further strengthening the group's position at the forefront of the retail technology market.
The combined company, which posted almost €100 million in sales last year, now supports over 70,000 stores in 70 countries globally. This acquisition underpins Cegid's ambitious growth plans as it looks to accelerate its development in the rapidly evolving retail sector.
(Logo: http://mma.prnewswire.com/media/609089/Cegid_Logo.jpg )
The acquisition of Cylande strengthens Cegid's position as one of the major global IT solution providers for retail.
Together, Cegid and Cylande's combined offer means they are well placed to pursue the necessary investments in research, technology and human capital required in order to meet the challenges of today's retailers, and capture new markets across the globe.
"It was clear that not only were our complementary product portfolios well aligned, but the combined offer also allows us to capitalise on the diversity of our existing customer base, the industry expertise of our employees and the international presence of both companies. This, along with Cegid's leading Cloud technology, makes this newly expanded group a key player that is strategically positioned to address the challenges of the retail market today", said Pascal Houillon, Chief Executive Officer of Cegid.
Jean-Pierre Paugam, founder and current president of Cylande, will support the new group as a consultant in strategic affairs. Stephane Escriva will provide long-term support to Cegid as Deputy Chief Executive Officer of Cylande.
Cegid intends to keep and develop the solutions portfolio, thereby securing the investment choices previously made by Cylande customers. Cylande products will be incorporated into the Cegid retail product portfolio.
Cegid will implement its merger and consolidation knowledge, as it had already done successfully in its previous acquisitions.
Nathalie Echinard, Managing Director of Retail at Cegid, will manage the new entity.