Axcel has agreed to acquire LS Retail, a leading software provider for retail and hospitality, marking its first investment in Iceland and enhancing its Nordic software portfolio.

Information on the Target

Axcel has signed an agreement to acquire LS Retail, a market-leading software provider in the retail and hospitality sectors. This acquisition marks Axcel's first investment in Iceland and adds a strong asset to its portfolio of Nordic software companies with a global reach. Established in Reykjavik and operating under the LS Retail name since 2007, the company employs approximately 300 staff and has offices in diverse locations including Iceland, Portugal, the United States, the United Arab Emirates, and Malaysia.

LS Retail is recognized as a top independent provider of vertical software solutions for various sectors including retail, hospitality, pharmacy, and food & beverage. Its software, which is built on the Microsoft Dynamics platform, enhances operational efficiencies and improves customer service across over 110,000 outlets and restaurants globally. According to Christoffer Müller, Partner at Axcel, LS Retail is one of the preferred software providers around the world, offering comprehensive solutions that manage everything from point-of-sale to financials on a single platform.

Industry Overview in Iceland

The retail and hospitality sectors in Iceland are undergoing significant transformations driven by digitalization and evolving consumer expectations. As companies transition from traditional on-premise solutions to cloud-based platforms, there has