Torex Retail is to acquire Retail-J, the Hertford-based developer of electronic point-of-sale software with 20 staff, for £50m. The deal consists of £40m in cash and £10m in Torex shares. Retail-J was launched in 2002 and now has contracts with 28 UK retailers, including BHS, Selfridges, Vodaphone, Harrods and B&Q. As part of the deal, Retail J's managing director, Mike Carrell, will join the board of Torex Retail as chief technology officer. Chris Moore, Torex chairman, said: "The acquisition of Retail-J brings together what we believe to be the best Epos (electronic-point-of-sale) and store system for the UK market." [Financial Times]