Advised on Purchase of CompanyTechnology
Acquired 100% of Business Operations
Total Specific Solutions (‘TSS’) further extends its foothold in the Swedish software market with the acquisition of FDT AB. FDT is a vertical market software (VMS) company that is part of the Swedish white goods and consumer electronics retail chain the Elon Group that operates in Sweden, Denmark, Finland, Norway, and Iceland.
FDT is one of the market leaders in Sweden for retail solutions. Their software suite consists of Excellence Retail, a modern cloud-based POS solution with the latest integrations for payments. Avance is a (back-office) ERP system that covers all the processes within a retail store or chain. Their new ERP product Sellus is a web-based back-office system that combined with the POS solution offers the flexibility to integrate into other directions as well.
Ramon Zanders, Group CEO at TSS:
“With this acquisition, we further strengthen our position in Sweden. This is our second TSS company here next to Infoflex. FDT is a good fit for us, as it is a real VMS player focusing on the retail market. We have a lot of experience in the retail vertical with ACA, Divide, Maestro, and prohandel. We know how to run software companies, that is our business. We will share our international experience and knowledge of VMS management with them. And we are perpetual owners, meaning that we believe in the ‘Software for Life’ principle. This will benefit the Elon Group, who will continue to use the FDT retail solutions in their group. FDT will be an independent business unit run by Katarina Hökfors as Managing Director.”
Stefan Lebrot, CEO at the Elon Group:
“Back in 2014, when FDT was listed at the stock exchange, the Elon Group made a strategic decision to buy out its main software supplier. We wanted to ensure the system's further development and quality. We depend on FDT’s software in our stores. The Elon Group is one of Sweden’s largest retail chains with over 300 stores in Sweden alone. Our focus is on extending our retail business and in 2018 Elon entered in a partnership with four other Nordics chains.
We were looking for an owner who could give our software company FDT the same focus and attention as we apply to our retail strategy. We found that in TSS. It is very important to us that the continuity for the employees and clients is ensured. And that the FDT retail solutions will continue to be developed, as the Elon Group will remain a customer. We need robust software solutions to realize our ambitions, to fulfill the consumers’ needs, and to run our businesses as efficiently as possible. We are therefore pleased that TSS is the perpetual owner of FDT, our retail software provider.”
About Total Specific Solutions:
TSS is the European Vertical Market Software group of Constellation Software Inc. (“CSI”) and is headquartered in the Netherlands. TSS software solutions provide their customers real business value and allow them to operate at a high level of efficiency. As part of CSI, one of North America’s largest and most respected software companies, Total Specific Solutions is constantly seeking acquisition opportunities to add value to their existing vertical markets and is equally excited to explore new verticals when great opportunities present themselves.
About Elon Group:
Elon Group AB is a Nordic alliance that is owned and driven by retail entrepreneurs in Sweden and Norway. The Group has since 2018 joined partnership with retail chains in all the five Nordic countries; Elon in Sweden and Norway, Heimilistaeki in Iceland, Hvidt & Frit in Danmark and Veikon Kone in Finland. With more than 500 stores around the Nordic countries, Elon Group is always close to the customer.
IMAP advised TSS throughout the acquisition process.