Acquisition of Retail Execution Technology Innovator is Part of Goal to Help Retailers Drive Store Productivity and Employee Engagement
StoreForce, a provider of innovative software for managing specialty retail stores, today announced the acquisition of ThinkTime, a retail execution solution for retailers. This acquisition comes less than six months after StoreForce received a majority investment from Accel-KKR, a tech-focused global private equity firm with $19 billion in cumulative capital commitments. This acquisition enables StoreForce and ThinkTime to offer an increasingly comprehensive suite of technology solutions that boost productivity, execution and engagement at every level of global retail organizations, driving value back to the bottom line.Â
Built by a management team with extensive retail background, ThinkTime offers focused solutions in task management, store-level ticketing, internal support and communications with native mobile and multi-lingual capabilities that enable in-store operational excellence and cater to the retail workforce of the future. StoreForce helps specialty retailers drive store productivity, schedule the workforce, engage employees, and increase sales through its Retail All-in-One Operations software platform.
“In today’s challenging economic times, it has become critical to help specialty retailers raise their store efficiency and profitability to the highest level possible, and we intend to do that in the way we know best: delivering the most complete, intuitive and scalable retail tech platform on the market,” said Dave Loat, CEO and co-founder of StoreForce. “ThinkTime’s robust task management and ticketing solutions, not to mention their knowledgeable, customer-focused people, are great addition to StoreForce and to our shared vision for growth.”
“StoreForce’s growth focus paired with the financial backing and operating experience of Accel-KKR will enable ThinkTime to accelerate our technology roadmap so we can more quickly introduce innovation that help customers take their retail operations to the next level. This is an exciting time for our company, our people and our customers,” said Joel Livet, CEO and co-founder of ThinkTime.
“Accel-KKR is excited to support the partnership of these two highly complementary businesses, and we’re committed to providing the right resources in helping them succeed. We congratulate StoreForce and ThinkTime on this milestone and we look forward to what’s ahead in their combined go-to-market strategy,” said Phil Cunningham, Managing Director at Accel-KKR.
