Epicor Software said it planned to acquire NSB Retail Systems for approximately $322 million.

Epicor plans to pay 38 pence per share for NSB, a Montreal-based company that is listed on the London Stock Exchange. The boards of both companies have agreed to the arrangement and it is expected to close in February. As of June 30, NSB had a balance of $34.6 million on its books and owed no outstanding debt.

Epicor expects the deal to expand its retail customer base. "NSB's current retail market focus is well aligned with Epicor's, and NSB brings an attractive, loyal customer base, which complements Epicor's growing presence in the retail vertical and creates a market leader in the highly fragmented specialty retail market," said Epicor chairman and CEO George Klaus in a statement.

Epicor plans to fund the acquisition with $155 million from its existing cash balances, in addition to funds from a new credit facility that Bank of America has set up.

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