Cronus Partners Pleased to Announce Acquisition of Retail Technology Business by GK Software
Cronus Partners LLC (Cronus) is pleased to announce it acted as the exclusive financial advisor to GK Software AG (GK Software), the leading European provider of integrated store solutions, in its asset acquisition of the retail business segment of Data Business Systems Inc. (DBS). The DBS Raleigh N.C.-based retail operations provide products and services in the areas of payment processing and customer engagement and loyalty, complementing GK Software’s solutions for the retail market.
“We anticipate that this transaction will enhance our growth in the North American market, and Cronus was an integral partner in every aspect of its successful completion. The team provided unique capabilities beyond that of a financial advisor,” commented Michael Jaszczyk, Chief Technology Officer, GK Software and CEO, GK Software USA, Inc.
Jeffrey Rubin, Managing Director at Cronus, added, “It was a pleasure working with the teams at GK Software and DBS on this exciting transaction, as well as contributing our expertise on cross border transactions and investment in the North American market.”
Founded in 1990 and headquartered in Schoneck, Germany, GK Software is one of Europe’s leading technology providers of standard software for the retail sector and offers an extensive range of products for stores and enterprise headquarters. With more than 193,000 installations across 37,300 stores in more than 38 countries, the company has established itself as one of the retail market’s leading providers of technology and innovations.
Founded in 1977 and headquartered in Virginia Beach, VA, DBS is one of the largest POS solution providers in the U.S., with a full range of end-to-end POS solutions and services. The company provides best-in-class solutions in each of its markets through partnerships with the industry’s leading retail technology vendors and its own extensive development resources.
About Cronus Partners
Advising on mergers, acquisitions, divestitures, sales, and private placement financings, Cronus Partners is an independent investment banking firm that provides financial advisory and other investment banking services. Winner of the New York Association for Corporate Growth’s Boutique Investment Bank of the Year Award, the firm has significant experience in advising both public and private companies that can benefit from middle-market transactions. For further information, please contact:
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