Micros acquires e-commerce design firm Fry for $31M
IT services provider Micros Systems Inc. has acquired Fry Inc., an e-commerce design, development and managed services provider, for $31.3 million plus the assumption of approximately $18.4 million in debt.
Fry's proprietary e-commerce technology, used by retailers such as Eddie Bauer and Ann Taylor, will enable Micros to enhance its retail offerings to include delivering cross-channel services reaching consumers wherever a transaction may take place. Fry also brings a strong design department to the table — Micros didn't previously offer in-house design capabilities.
As a result of Micros' strength in the travel and entertainment industries as well as internationally, the deal brings opportunities for Fry to grow its business in these new areas.
“Everyone [involved in the deal] saw the growth opportunities in the online commerce space,” said Rudy Pataro, chief technology officer and VP of sales at Fry. “Folks are continuing to invest in the e-commerce channel and, as a result, it is growing.”
David Fry, founder and CEO of Fry, will remain with the company as president. The company's operational activities will remain unchanged.