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Symphony Technology Buys GERS Retail Systems

7/08/2003 10:12:00 AM Eastern

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 transaction is expected to close within two weeks.

At this time, the transaction 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. Symphony was founded and is led by Romesh Wadhwani, the former vice chairman of i2 and CEO of Aspect Development.

“We are very excited to add GERS as a portfolio company and strategic partner,” Wadhwani said. “GERS has continued to execute to win, deploy, and satisfy new customers in a difficult market — and has demonstrated impressive momentum in broadening their customer base out to general retail, including major wins at Nextel, Blue Nile and Hot Topic. Together we believe we can increase the pace of innovation for customers, and continue our recent history of profitable growth.”

Jim Henderson, CEO/president of GERS Retail Systems, seconded that. “This is a very exciting time for our company. Our emphasis on customer satisfaction and product innovation is driving an increase in demand across all of our products in multiple retail sectors. By working with Symphony Technology Group and their portfolio, we will increase our ability to innovate and provide value for our customers.”

GERS is a supplier of software solution for the retail marketplace that has been in existence for nearly 30 years. The GERS Electronic Retail Enterprise includes mission-critical transaction management applications for multichannel retailing, and provides fully integrated corporate office applications for merchandise replenishment and allocation, distribution center management and financial control.