PDI Signs Definitive Agreement to Acquire Orbis Tech Entering the Global POS Market
ATLANTA - PDI, a global provider of leading enterprise management software for the convenience retail and petroleum wholesale industries, has signed a definitive agreement to acquire Orbis Technologies Ltd (Orbis Tech), a global provider of cloud-based point of sale (POS), back-office, and home-office business solutions. The acquisition enhances PDI's international software offerings with a seamless POS, back-office, and home-office cloud platform that will help businesses simplify complex in-store and forecourt operations. In addition, Brad McGuinness joins PDI as senior vice president of PDI Point of Sale Solutions bringing 30+ years of expertise in POS technology and the petroleum and convenience retail industries.
Orbis Tech has developed modular POS, cloud-based back-office, and home-office software that works seamlessly as an end-to-end solution, providing businesses of any size with international operations the flexibility they need to run their business. PDI has a long history of serving its customers and delivering software that will meet their needs today while setting them up for what lies ahead. A modern, integrated POS software suite is becoming increasingly important to the future of convenience retail and how businesses reinvent their stores and the customer experience. PDI will continue to invest in the platform to accelerate delivery and ensure ongoing global operational support for customers.
This acquisition underscores PDI's commitment to helping businesses simplify complex in-store and forecourt operations.
"We've built a powerful single stack suite of solutions for hospitality, convenience, and fuel retail and are excited to join the PDI team," said Orbis Tech CEO Jorundur Jorundsson. "Together, we'll be able to innovate and deliver even faster—so we can build upon our robust software leveraging PDI's expertise in retail back-office operations, network security, and protecting critical data and assets."
PDI strengthens its leadership and position in the market as Brad McGuinness joins the company to oversee their POS solutions, including the Orbis POS, back-office, and home-office cloud platform. Before joining PDI, Brad McGuinness held several leadership positions during his 25+ years with Verifone. He was responsible for bringing Ruby, Commander, Topaz, and the Verifone Mx multilane pin pad family of products to the retail and petroleum industries. Early in his career, Brad led key standards development initiatives with Conexxus; he currently serves on the NACS supplier board and has been recognized as one of the 50 most influential people in the convenience store industry.
"PDI has an outstanding reputation in the industry and a world-class leadership team," said Brad McGuinness, senior vice president of Point of Sale Solutions at PDI. "I'm excited to join the team and looking forward to growing the point of sale business and helping PDI customers succeed."
"Orbis Tech has built a complete solution that fits the needs of our international customers, enabling them to optimize their business while simplifying their technology stack," said Jimmy Frangis, CEO at PDI. "Adding POS software, strengthening our back-office and home-office solutions, and appointing industry veteran Brad McGuinness to lead, positions PDI to serve the industry now and help our customer reshape the future."
Berenson & Company served as exclusive financial advisors to PDI in connection with the transaction.