Aussie transaction management platform Task Retail is set to be acquired by New Zealand-based mobile engagement software company Plexure for $120 million.
The acquisition will see the companies integrate their offerings to create a platform that combines Task’s point-of-sale (PoS) and restaurant operations capabilities with Plexure’s data, analytics and personalisation capabilities, Plexure chairman Phil Norman said.
“Combined, this offering delivers a fully integrated cloud based customer solution for clients, with the benefit of a shared data source and not having to juggle multiple third party integrations, with powerful API-led integration capabilities in each business,” Norman said.
Task’s global customer base was also a driver of the acquisition, to build on Plexure’s own global presence that is primarily through fast-food giant MacDonalds, according to a statement on the deal.
“TASK represents more than just earnings growth for Plexure. We saw a company that was a natural fit, which delivers on a number of strategic priorities, including the strength of the joint proposition for customers, the ability to leverage shared functions and technology architecture to optimise efficiencies for the Group, as well as providing Plexure with access to a more diversified customer base which will significantly reduce Plexure’s current revenue reliance on our relationship with McDonald’s,” Norman said.
Task chief executive Daniel Houden will become Plexure chief executive and lead the merger businesses.
Houden, son of Task founders Kym and Jennifer Houden, said, “I am delighted by the support from Plexure shareholders and look forward to joining Plexure’s executive team to develop the opportunities in front of the combined business. Both teams have responded positively to this opportunity and are excited by the prospect for mutual knowledge sharing across portfolios and fostering stronger development capabilities which will ultimately improve our competitive positioning and our ability to cross-sell.”
The Houden family will also gain a ‘substantial holding’ in Plexure as they are “deeply invested in growing the TASK business together with Plexure as a combined offering. The acquisition is a big win for the TASK team and our existing clients long-term,” Houden said.
The acquisition was approved by Plexure shareholders at the end of last week.