Retalix Acquires Cornell Mayo Associates, a Leading Provider of Store Systems for Top Tier Department Stores
Retalix® has acquired Cornell Mayo Associates (“Cornell Mayo”), a prominent provider of point of sale and store management systems serving top tier U.S. department stores and high-end specialty retailers, and the clear leader in its respective market segment.
About Cornell Mayo
Founded in 1981 and headquartered in New Jersey, Cornell Mayo is a leading provider of store systems. The company serves high volume, high complexity department stores and very large specialty retailers in the U.S. and is a leader in this segment. Cornell Mayo’s product offering includes pointofsale and mobile pointofsale solutions, back office and central store systems, clienteling, product locator, cash-office and returns management systems.
The company’s customers include such leading department stores as Saks Fifth Avenue, Belk, Boscov’s Department Stores, Stage Stores and the Neiman Marcus Group. Cornell Mayo additionally serves large specialty retailers, including Barnes & Noble and Eileen Fisher.
The Rationale behind the Deal – Why Cornell Mayo?
In acquiring Cornell Mayo, Retalix continues to execute on its strategy to expand into adjacent retail segments.Cornell Mayo significantly enhances the company’s position in the department store retail segment, and complements Retalix’s leadership position and proven track record in the high-volume, high-complexity retail market.
The company was chosen for acquisition over others for its high success rate in store system implementations. This is supported by the 2011 industry award RIS Software LeaderBoard, in which Cornell Mayoranked #1 in 21 categories of 25 total categories – more top rankings than any other vendor in the list – for the second year in a row, a strong demonstration of how Cornell Mayo’s customers value the support and service they receive from the company. The fact that Retalix and Cornell Mayo do not share any customers makes this acquisition all the more logical for the two highly complementary companies.
Retalix stands to gain from Cornell Mayo’s deep domain expertise and longstanding relationships with large, well-respected department stores and very large specialty retailers, and aims to leverage Cornell Mayo’s clienteling expertise to assure personalized service delivery for high touch leading retailers. Cornell Mayo and its customers will immediately achieve synergies with Retalix. Retalix will make available complementary products (such as Retalix 10 Mobile Shopper and Connected Payments), a range of retailer focused Services as well as global reach and financial depth.
Retalix is dedicated to the success of its customers, and will maintain the best interests of both existing and new Retalix and Cornell Mayocustomers. We will fully adhere to Cornell Mayo’s prior obligations, with uncompromising on-going support. Retalix is also fully committed to all of Cornell Mayo’s existing partnerships, and to the collaborative business spirit it maintains with its partners.
The Cornell Mayobusiness unit will preserve its well-established brand under the leadership of its founder Gene Cornell, so as to seamlessly serve its loyal customer base, and will be referred to as “Cornell Mayo, a Retalix Business unit”.