TEMPLE, Texas -- Longtime competitors are joining forces—at least to a degree: Convenience-retail software provider PDI has acquired the enterprise resource planning (ERP) assets of The Pinnacle Corp.
In a joint press release, the companies announced that PDI will acquire Pinnacle’s ERP software assets, intellectual property and development and support resources, saying it will add these solutions to PDI’s software offerings for retail automation, fuel supply chain, business intelligence and workforce management.
PDI was decidedly the larger player in the space, but Arlington, Texas-based Pinnacle has developed a strong and loyal following among c-store retailers, and it has developed offerings such as a loyalty platform and, most recently, a mobile-app solution. Pinnacle will move forward with its remaining assets and customer base tied to its point-of-sale (POS), payments, loyalty and Affiniti mobile solutions, the companies said in a press release.
“We are excited to add Pinnacle’s offerings, people and expertise to our existing portfolio,” said Jimmy Frangis, CEO of PDI, Temple, Texas. “The addition of Pinnacle’s software further demonstrates our commitment to the convenience-retail and wholesale-petroleum industries. Pinnacle has a great customer base, and we look forward to serving these customers and their business needs for many years to come.”
"Since 1990, Pinnacle’s strategy for retail-convenience operators and fuel marketers across the United States has consistently been to provide a comprehensive technology offering that streamlines our clients’ businesses and improve their bottom line over the long haul, not unlike PDI,” said Bob Johnson, CEO and chairman of the board for Pinnacle.
“There are considerable synergies between our two companies and our offerings.” Johnson said. “This combination will leverage the best of both organizations in the interest of Pinnacle’s current clients as well as PDI’s, and those to come. We have worked closely with PDI to ensure a smooth transfer of Pinnacle’s clients, employees and assets for the best possible outcome, and that relationship will continue into the future.”
Having developed investment partnerships in recent years, PDI has been in acquisition mode, recently completing the purchase of Intellifuel Systems Inc., a provider of fuel-management and logistics solutions for downstream and midstream clients.
“PDI has experienced tremendous growth over the past few years, and this acquisition further solidifies the company’s commitment to innovating, growing and looking for opportunities that create value and make a difference for PDI’s customers, partners and employees,” Frangis said.
The companies did not address how PDI’s enterprise software will change (if at all) as a result of the acquisition, nor how they will migrate Pinnacle customers to PDI products. Pinnacle officials did not comment on plans moving forward with its remaining products and services. Neither companies responded for comment by press time.
PDI is a provider of software solutions to the convenience-retail and wholesale-petroleum industries. Similarly, Pinnacle is a supplier of technology to the convenience-store and fuel-petroleum markets, serving more than 20,000 convenience stores across the United States.
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