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Brisbane tech company sold off to Canadians in $55 million deal

Business

Canada’s Maropost has bought Brisbane-based Retail Express for more than $55 million. 

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The deal was apparently done in December but only announced last night in Canada where media reports said payment was in cash and options.

It’s Marapost’s second deal in Australia after it bought eCommerce platform Neto for $58 million in 2021.

Retail Express was founded by Aaron Blackman as a point-of-sale technology and it claims to have driven more than $50 billion in Australian & New Zealand retail sales since it was founded in 2006.

Our market-leading omnichannel POS software will continue to be available with all the functionality and local, Australian-based support retailers love — but now with a range of exciting new and upcoming services, features and tools as part of the Maropost platform,’’ Blackman said.

“The entire team at Retail Express and Maropost is incredibly excited about this next step and providing retailers with truly best-in-class systems.’’

Maropost chief executive and founder Andrew Parquette said his company had been actively building the only unified platform that empowered commerce merchants to manage their core tech stack in one place. 

“With Retail Express, Maropost is now even better equipped to help commerce merchants around the world,’’ he said.

“This advanced cloud retail management platform is built by retailers for retailers and it’s a modern way to tackle age-old retail problems. 

“POS, inventory management, order fulfillment and superior reporting are just some of the features that Retail Express excels at.

“We’re extremely excited to work with the experts at Retail Express. There are incredible synergies between our companies from the customer, technology and philosophical perspectives. 

“Retail Express has seen great success so far – they have helped 5,200+ retailers, 45,000+ users and have processed over $50 billion in transactions.”

 

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