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Glory Global Solutions to acquire cloud-based commerce firm Flooid
Thu, 28th Dec 2023

Glory Global Solutions (International), a subsidiary of GLORY, has confirmed plans to acquire Flooid, a leading provider of cloud-based commerce software solutions to the retail industry. The acquisition is from Inflexion Private Equity Partners and will see Glory purchasing 100% of the issued share capital of Flooid.

Flooid, with its headquarters in Coventry, UK, and operations in the USA, specialises in delivering seamless retail experiences across multiple customer touchpoints.

The company's cloud-native, hardware-agnostic unified commerce platform handles a variety of functionalities including pricing, tax calculation, promotions, orders, deliveries, payments, and more. The platform supports a wide array of point of sale options such as self-checkout, mobile POS, and interactive kiosks, regardless of the store format or retail segment.

Flooid's clients span across Europe, North America and South Africa, and include notable names such as M&S, John Lewis Partnership, Walgreens, Hudson News, and PicknPay. IDC, an industry analytics company, recognises Flooid as a major player in the segment.

Akihiro Harada, Chairman and CEO at Glory Global Solutions, expressed his hopes for the acquisition. He stated, "The acquisition of Flooid will be a significant strategic step for Glory. Their core value proposition for retailers around enhancing operational efficiency, reducing cost, delivering a seamless customer experience and having a positive environmental effect are in lock-step with those of Glory's existing solutions."

"The addition of Flooid will build not just on our present retail solutions portfolio, it will expand our annuity revenue streams driven by their software as a service business model."

Motozumi Miwa, President of GLORY LTD., discussed the alignment with the company's vision. He said, "The investment to acquire Flooid is another step in the execution of Glory's Long-Term Vision and is directly aligned with the company's diversification beyond cash and growth strategy."

"Glory's global presence and existing relationships with major retailers around the world will help open up new markets for the Flooid solution and power the next phase of growth for both companies."

In response, Diane Palmquist, CEO of Flooid, expressed her excitement for the acquisition, saying, "Joining Glory will be an exciting step in our journey to reach more retailers with our unified commerce platform. Becoming part of a large global ecosystem extends the reach of our solutions into new markets and Glory brings us new solutions to offer those retailers."

The acquisition awaits the approval of Flooid's shareholders and the finalisation of the share purchase agreement.

Glory is focused on providing safe and secure transactions that are critical to businesses and customers. The company deliver ssecure, efficient payment systems and instant, highly accurate identity verification and authentication solutions that enable confidence in transactions and other interactions between businesses and people.