Stevenson completes sale of LP Software, Inc.
Result: Business Sold to Strategic Buyer
Industry: Technology – Software-as-a-Service (SaaS) for Retail
LP Software, Inc. of Illinois, a leading developer and provider of loss prevention and risk mitigation software has been sold to Appriss Retail.
Established in 1998, LP Software has been an innovator in the retail sector solving the complex issues of loss prevention, fraud and risk mitigation. LP Software has an impressive list of 150 of the top global retail brands and has compiled a strong dataset of over 6 million cases and incidents.
Appriss Retail, a division of Appriss, Inc. and backed by Insight Venture Partners, is a leading predictive analytics SaaS platform serving the retail Global 1000 in 45 countries. Combining LP Software’s technical expertise and dataset with Appriss Retail’s skills in artificial intelligence delivers the most comprehensive retail analytics platform in the industry. Stevenson & Company was retained as exclusive sale advisor to identify, assess and market to strategic and financial buyers.
Brian Eskra, President & CEO of LP Software, commented ”The Stevenson team served as excellent trusted advisors from planning and preparation through to closing – even guiding us through the upfront work we didn’t know was so critical. Stevenson vetted the best potential buyer, negotiated an exceptional deal, and had the tenacity necessary for getting the deal successfully closed. Stevenson’s guidance and insight were critical given our objective to remain in our roles post-closing. Overall, it has been a very gratifying experience.”
Stevenson served as an excellent trusted advisor throughout. They provided me with precisely what I needed – an aggressive go-to-market approach, the guidance to present Aerostar’s story and future strategy, and the drive to get it successfully closed! And this is what retirement looks like!