Appriss Retail Acquires LP Software to Expand Retail Solutions
Adding the LPMS product line and client base increases Appriss Retail’s market leadership.
Appriss Retail, the industry leader in retail performance improvement solutions, today announced the acquisition of LP Software, a leading developer of loss prevention and risk mitigation solutions. LP Software has a broad, diverse, and global customer base of more than 150 retailers, many new to the Appriss Retail family. This combination expands Appriss Retail’s premier analytics position in the market, as well as increases the resources and capabilities available to LP Software.
Established in 1998, the Chicago, Illinois-based company is best known for its case management system (LPMS) and its compliance and store audit solution (CAMS). A strong brand name and a team with a wealth of experience in case/incident management solutions, LP Software’s products and expertise provide a complementary fit to Appriss Retail’s existing solutions, including Secure™ Store. Appriss Retail and LP Software already have a successful, jointly-developed integration to build upon.
“The acquisition of LP Software allows Appriss Retail to serve 250 of the largest, most advanced retailers in the world,” said Krishnan Sastry, president of Appriss Retail. “We committed ourselves to deliver the most comprehensive retail analytics platform to help loss prevention and store operations executives to continue to improve the competitiveness and profitability of their companies. LP Software’s expertise in compliance and audits, in addition to their long-standing position in case management, will lead to further product innovation for our customers.”
“We are excited about the acquisition and the ability to combine LP Software’s expertise in case and incident management with Appriss Retail’s skills in artificial intelligence,” said Brian Eskra, president and CEO of LP Software. “This will enhance the ongoing service and value we deliver to our clients. In fact, we have compiled an extensive dataset of more than 6 million cases, which gives us deep insight into the fraud, compliance, and audit work space that will help drive future innovation.”
With more than 20 years of retail data science expertise, Appriss Retail’s Software-as-a-Service (SaaS) platform targets the retail Global 1000 and generates advanced analytical insights and real-time decisions that drive action throughout the organization, including operations, finance, marketing, and loss prevention. Its performance-improvement solutions yield measurable results with significant ROI among retail store, ecommerce, and inventory functions.
District Capital Partners acted as the buyside advisor to Appriss.
About Appriss Retail
Appriss Retail, a division of Appriss, Inc., provides artificial intelligence-based solutions to help retailers protect margin, unlock sales, and cut shrink. With more than 20 years of retail data science expertise, the company’s Software-as-a-Service (SaaS) platform generates advanced analytical insights and real-time decisions that drive action throughout the organization, including operations, finance, marketing, and loss prevention. Its performance-improvement solutions yield measurable results with significant return on investment among retail store, ecommerce, and inventory functions. Appriss Retail serves a global base of leading specialty, apparel, department store, hard goods, big box, grocery, pharmacy, and hospitality businesses in more than 125,000 locations (brick and mortar and online) in 45 countries across six continents. For more information about Appriss Retail, visit https://apprissretail.com
About LP Software
LP Software provides customizable software to help companies of all sizes, by providing innovative product solutions, and delivering results that increase your bottom line. Our proven solutions will help you manage Loss Prevention incidents, HR incidents, Compliance Auditing/Checklists, Accidents, OSHA reporting, Award Management, and Task Management. As a leading provider of software solutions, LP Software provides both on premise installation as well as On-Demand service. With our On-Demand service, you experience the benefits of an integrated management solution without large upfront costs or having to build a large IT infrastructure. For more information, please visit www.LPguys.com