London-headquartered tech firm Digital Applications International has been acquired in a £109m deal.

The logistics automation company has been snapped up by the parent company of intralogistics innovator Dematic.

DAI’s core product is a warehouse management system to support the movement, storage and distribution of goods through the entire supply chain.

The companies said a long-term programme for retaining and growing DAI’s workforce of approximately 240 employees will be put in place.

“Dematic and DAI have been partners for many years sharing market leadership and software capabilities. Combining the companies will only accelerate the benefit to customers,” said Dr. Andrew Kisiel, founder and Chairman of DAI.

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In the 2019 financial year, DAI’s preliminary revenue was equivalent to approximately €40 million. With offices in London, Manchester, Aberdeen, Basel (Switzerland) and Shanghai (China), DAI has customer installations around the globe, many of which have been close collaborative efforts with Dematic.

“This deal marks a significant moment in time for Dematic and for intralogistics as a whole,” said Hasan Dandashly, CEO at Dematic.

“Software is no longer something extra to be added to a solution — it is a fundamental, inextricable part of all solutions.

“And now with this combined software portfolio we can provide our customers with entirely new business models to make them more competitive and power the future of commerce.”