RA`ANANA, Israel–Sept. 7, 2001–Retalix Ltd. (Nasdaq:RTLX) todayannounced that it has signed a definitive agreement to acquire the privately held BASS Inc. of Dayton, Ohio.
BASS designs and develops a wide range of retail automation software applications for the tier-two grocery market. Total cost of the deal including assumption of debt, severance pay and a one time restructuring fee will amount to approximately $5 million in cash and stock.
BASS, with 100 employees, has been at the forefront in providingintegrated store- and host-level software solutions for the past 22years. The BASS deal brings to Retalix an installed base of 3,500retail sites in the U.S. alone.
The deal is expected to significantly contribute to Retalix`smarketing strategy for both its enterprise software applications ande-marketplace initiatives in North America. BASS will continue withits current operations and will later expand its sales activities toinclude other Retalix products.
`We are very pleased to have completed this acquisition, which will allow us to offer Retalix`s market-leading software applications to the entire spectrum of U.S. grocery operators,` said Retalix`s CEO Barry Shaked.
About Retalix Ltd.
Retalix Ltd., with headquarters in Israel, provides integratedenterprise-wide software solutions for the retail food industryworldwide, including supermarkets, convenience stores and restaurants.The Company offers a full suite of software applications that supportsa food retailer`s essential retailing operations, resulting inincreased operating efficiencies and profitability while improvingcustomer acquisition and retention. Retalix systems are operating inmore than 15,000 stores and quick service restaurants across 41countries. The Company`s Ordinary Shares have been publicly traded onthe Tel Aviv Stock Exchange since November 1994 and on the NASDAQNational Market System since July 1998. For further information, visitthe Company`s Web sites at www.retalix.com or www.storealliance.com.
Safe Harbor for Forward-Looking Statements: Except for statementsof historical fact, the information presented herein constitutesforward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Such forward-lookingstatements involve known and unknown risks, uncertainties and otherfactors that may cause the actual results, performance orachievements of the Company, including revenues, income and expenses,to be materially different from any future results, performance orachievements expressed or implied by such forward-looking statements.Such factors include the integration of BASS Inc.`s operations andsoftware products, anticipated benefits to Retalix`s marketingstrategy in the U.S. and other factors over which Retalix may havelittle or no control. This list is intended to identify only certainof the principal factors that could cause actual results to differ.Readers are referred to the reports and documents filed by Retalixwith the Securities and Exchange Commission, including the Company`sAnnual Report on Form 20-F for the year ended December 31, 1999, for adiscussion of these and other important risk factors. The Companyundertakes no obligation to publicly release the results of anyrevisions to these forward-looking statements that may be made toreflect events or circumstances after the date hereof, or to reflectthe occurrence of unanticipated events.
–30– CONTACT:
Retalix Ltd.
Barry Shaked or Danny Moshaioff
(011) 972-9-776-6677
or
Coffin Communications Group
Sherman Oaks, Calif.
Crocker Coulson
818/789-0100
[email protected]