GERS Retail Systems Acquired By Symphony Technology Group Leading Provider of Retail Software Solutions Joins Portfolio of Innovative Market Leaders

Furniture World Magazine

Symphony Technology Group, an enterprise software investment firm offering a unique blend of technology, venture funding, partnering, marketing, and corporate finance expertise, has signed an agreement to acquire privately held GERS Retail Systems. The transaction is expected to close within two weeks. Symphony Technology Group has an almost exclusive focus on enterprise software and services, and is led by Dr. Romesh Wadhwani, the former Vice-Chairman of i2 and CEO of Aspect Development. Symphony invests in companies with strong customer franchises in their core markets, and with excellent potential for growth acceleration. Symphony supports the success of these companies with capital, operational expertise, and the leverage of intellectual property from other leading portfolio companies like SymphonyRPM for real-time performance management. "We are very excited to add GERS as a portfolio company and strategic partner," said Romesh Wadhwani, Founder and Managing Partner of Symphony Technology Group. "GERS has continued to execute to win, deploy, and satisfy new customers in a difficult market – and has demonstrated impressive momentum in broadening their customer base out to general retail, including major wins at Nextel, Blue Nile, and Hot Topic. Together we believe we can increase the pace of innovation for customers, and continue our recent history of profitable growth." "This is a very exciting time for our company," said Jim Henderson, CEO and President of GERS Retail Systems. "Our emphasis on customer satisfaction and product innovation is driving an increase in demand across all of our products in multiple retail sectors. GERS and Symphony share a vision for excellence in the retail marketplace. By working with Symphony Technology Group and their portfolio, we will increase our ability to innovate and provide value for our customers." About Symphony Technology Group: Symphony Technology Group is an enterprise software investment firm offering a unique blend of technology, venture funding, partnering, marketing, and corporate finance expertise designed to assist companies in realizing their full potential to become industry leaders in their respective markets. For more information, please visit http://www.symphonytg.com. About GERS Retail Systems: With nearly 30 years of experience and 300 installations worldwide, GERS Retail Systems is a leading supplier of software solutions for the retail marketplace. The GERS Electronic Retail Enterprise includes mission-critical transaction management applications for multi-channel retailing, and provides fully integrated corporate office applications for merchandise replenishment and allocation, distribution center management, and financial control. Integral to the GERS solution set are Business Intelligence applications for predictive modeling and decision support, Merchandise Planning and Allocation tools for increasing returns on inventory investments, and Supply Chain solutions for streamlining communications and maximizing productivity across the enterprise. For more information, please visit www.gers.com.