Symphony Tech Buys GERS Retail
By Tedra Meyer -- TWICE, 7/21/2003
San Diego— Symphony Technology Group, a Palo Alto, Calif.-based enterprise software investment firm, has signed an agreement to acquire privately held GERS Retail Systems, based here.
The terms of the transaction, which is expected to close within two weeks, were not disclosed.
At this time, the purchase is not expected to have any major changes to the way GERS operates, said Phil Kenney, VP, marketing. GERS' plans for its annual user conference, "Retail World," which is planned for Aug. 11-14 in San Diego, remain unchanged.
In general, the purchase will lead to expanded services and marketing reach, but "no change in terms of who we market to," Kenney said, referring to the group's past focus on CE retailers.
Symphony Technology Group concentrates almost entirely on enterprise software and services, and invests in companies with strong customer franchises in their core markets. It supports these companies with capital, operational expertise and the leverage of intellectual property from other portfolio companies like SymphonyRPM for real-time performance management.
