Waukesha-based RedPrairie Corp. announced today it has signed a definitive agreement to acquire StorePerform Technologies Inc. of Denver, Colo.

With the acquisition, StorePerform will become part of RedPrairie's Retail Productivity Solutions division, which was formerly known as BlueCube Software.

The acquisition positions RedPrairie to meet the expanding market demand for highly integrated workforce management solutions, integrating store execution management solutions with optimized labor scheduling, time and attendance, learning management, and employee self service solutions.

StorePerform president Srikant Vasan will continue to provide business leadership for the StorePerform group out of Denver, and no headcount reductions are planned due to the acquisition. The company provides solutions for prominent retailers such as Lowe's, Best Buy and Borders.

RedPrairie chief executive officer John Jazwiec said, "RedPrairie is the thought leader and leading solutions provider for retail productivity solutions. Through this acquisition, we are providing customers an end-to-end approach to workforce optimization by marrying best-in-class BlueCube Workforce Management with StorePerform Store Execution Management solutions for a unified, end-to-end solution that optimizes the retail workforce. With StorePerform, the leader in store execution management, we can further enable retailers to ensure that the right product and the right people are in the right place at the right time."

"This is one of the more logical and beneficial retail software deals to have transpired in 2006," said Rob Garf, research director at AMR Research. "Combining workforce management and task management assets makes sense for RedPrairie, which now has an additional store operations product in its arsenal. It can use its installed base and marketing power to penetrate a relatively immature market. More importantly though, the deal makes sense for the retail community, which should find tremendous value from procuring these complementary systems from a single vendor. This acquisition proves that RedPrairie is serious about integrating data and processes between workforce and task management applications."

The financial terms of the acquisition, which is expected to close in the next 20 to 30 days, were not disclosed.