Softline Group entity acquires SUBTOTAL developer of cash register products for retail automation
MOSCOW. Sept 24 (Interfax) - Vash Platyozhny Provodnik Group of Companies (VPP), part of the Softline Group, has completed a deal to acquire the company that owns the SUBTOTAL cash register product for retail automation, First Element LLC, PJSC Softline said.
The amount of the transaction has not been disclosed. Unified State Registry of Legal Entities (USRLE) information indicates that the transaction was registered on September 19.
The announcement indicates that the acquisition will complement the ecosystem of the VPP solutions platform, creating a full-fledged solution for retail, catering, and services. SUBTOTAL covers all aspects of entrepreneurs' activities, namely cash registers, automation systems, payment acceptance, work with labeling and the introduction of cash registers with fiscal memory (so-called fiscalization), and allows monitoring employees, sales, markup and inventory, as well as compliance with legislation for fiscalization, the company said.
"The deal with SUBTOTAL allows us to offer our clients a comprehensive payment and cash register solution, in which all services are under single management. Consequently, the purchase of a cash register will cover all the needs of SMB [medium and small businesses], namely payment acceptance, inventory control, work with labeling, and compliance with Federal Law No. 54 on fiscalization. Thanks to the deal with SUBTOTAL, the company will be able to offer not only software for cashless payments, but also software in a related field, namely cash registers," VPP co-founder Alexander Shpet said in the statement.