Sale of TXT Retail for €85m
TXT has agreed to sell its retail business for €85m in cash to Aptos, a North American retail software company. The deal should close by the end of October. Management expects to pay an extraordinary dividend in H118; we would expect a proportion of the proceeds to be retained to support the growth of TXT Next and the newly created TXT Sense business.TXT e-solutions SpA is an Italy-based company engaged in the information and communication technologies (ICT) market. It provides software and services-based solutions to enterprises. The Company structures its business into two main segments: TXT Perform and TXT Next. In the TXT Perform segment, it designs and develops software and IT solutions for fashion and luxury, specialty retail, consumer packaged goods (CPG) and discrete manufacturing sector. Through the TXT Next segment, the Company offers system integration and IT services to such sector as aerospace and defense, high-tech manufacturing, and banking and finance. It operates through subsidiaries: TXT e-solutions Ltd, the United Kingdom; TXT e-solutions GmbH, Germany; TXT e-solutions SL, Spain; TXT e-solutions Sarl, France; Maple Lake Ltd, Canada and Maple Lake Australia Pty Ltd, Australia amd PACE Aerospace Engineering and Information Technology GmbH.
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