Goldman Sachs to buy ‘built for the future’ Aptos

Retail tech big hitter Aptos is set to be acquired by the Merchant Banking Division of Goldman Sachs from its current private equity owner, Apax Partners. Terms of the deal were not disclosed.

Apax backed Aptos CEO Noel Goggin to spin-out the business from portfolio company, Epicor, in 2015. It also supported Aptos on a number of strategic acquisitions which boosted its presence in Europe and extended its product capabilities.

“We are looking forward to the next stage in our growth and maturation journey in partnering with Goldman Sachs, a group that brings a wealth of enterprise software expertise, commercial relationships and vast global resources,” says Goggin. “We are also grateful for the strong partnership and strategic support Apax has provided over the past four and a half years.”

“When evaluating the retail software market, it became apparent that Aptos is a leader in delivering differentiating and built for the future innovation,” comments Will Chen, Managing Director at Goldman Sachs.

“With the strength of its executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions. We look forward to helping the company further scale the product innovations, customer success initiatives and global market expansions that have been hallmarks of Aptos’ preeminence to date.”