Multi-channel ISV Junction Solutions purchased a $4 million POS vendor called ISS Retail this week. Junction CEO Brian Carpizo wouldn't say precisely how much the company paid to purchase ISS, but he said that the company recently received $7.5 million in financing and that it's reasonable to conclude that the purchase—consisting of cash, stock and non-cash items such as seller notes--was funded with that money.
The two firms were initially preparing an OEM relationship but concerns developed that Junction would "invest millions" into ISS and ISS could then fall into the hands of a competitor, Carpizo said. The OEM talks then quickly morphed into an acquisition negotiation.
Next week, Junction will announce that it is also acquiring a California E-Commerce software company called ThePage.com, for an undisclosed amount.