Capital A-backed Alistar Acquires TCOG to Strengthen Fashion and Retail IT Expertise

Alistar, a full-service European technology partner specializing in AI, business applications, data, and ICT backed by Capital A, announces the acquisition of TCOG, a prominent Microsoft Dynamics 365 Business Central and LS Central partner with a strong focus on fashion and retail. The deal, announced on July 17, 2026, aims to bolster Alistar’s expertise in fashion, retail, and omnichannel solutions while expanding its international footprint.

Although the financial terms of the transaction remain undisclosed, the acquisition increases Alistar’s workforce to over 930 employees and supports its annual revenue of approximately 160 million euros. This strategic move integrates TCOG’s specialized software and sector knowledge into Alistar’s portfolio, enabling a comprehensive solution for complex omnichannel supply chains.

TCOG operates from offices in the Netherlands, Belgium, and India, providing ERP implementations, retail automation, integrations, and continuous optimization services tailored to fashion and retail clients. As a Trusted Microsoft ERP Partner and Diamond LS Retail Partner, TCOG delivers technology and insights that help retailers and fashion companies navigate increasingly complex supply chains and rising customer expectations.

Jan Hofman, CEO of Alistar, emphasizes the strategic value of the acquisition: “With TCOG, we bring in-depth expertise to prepare the fashion and retail industry for the AI revolution. Our 2026 Alistar AI Benchmark shows strong belief in AI’s potential, but many companies struggle to achieve tangible results. By combining TCOG’s retail and supply chain knowledge with our data and AI capabilities, we help these businesses deploy AI reliably—from improved forecasting to enhanced control over operations.”

Francis Adams, CEO of TCOG, adds, “Joining Alistar is a natural next step. We continue to focus on integrated solutions for fashion and retail while gaining the scale, network, and strength of a leading European company. Our clients and employees can expect continuity and new growth opportunities.”

The acquisition addresses a critical gap identified in the Alistar AI Benchmark 2026, which found that while 87% of companies recognize AI’s potential, only 6% have fully embedded it into their processes. This gap is particularly significant in fashion and retail, where volatile demand, rapidly changing collections, and complex multi-channel supply chains require reliable data foundations and sector expertise to leverage AI effectively.

By merging TCOG’s retail specialization with Alistar’s AI and data strengths, the combined entity aims to transition AI from promise to practical application in forecasting, inventory, and assortment management.

Alistar, headquartered in Ghent, Belgium, offers end-to-end technology solutions including AI, ERP, CRM, data analytics, cybersecurity, and cloud services. It supports digital transformation projects across Europe, Latin America, and Asia with offices in Belgium, the Netherlands, France, Spain, Portugal, Argentina, Indonesia, and India.

TCOG, with over 100 employees, specializes in Microsoft Dynamics 365 Business Central and LS Central implementations, focusing on fashion and retail sectors. Its solutions, such as itSuitsFashion 365 and Integration Manager, combine deep industry knowledge with technological expertise to help clients optimize operations and scale efficiently.

Looking ahead, Alistar plans to integrate AI & Copilot technologies and unify cloud and cybersecurity platforms to enhance operational efficiency and service delivery. The acquisition is expected to strengthen Alistar’s market share in fashion and retail IT services and accelerate innovation in AI-driven business intelligence and ERP solutions.

Integration challenges include aligning product portfolios, merging corporate cultures, and ensuring service continuity during platform consolidation. However, the deal positions Alistar to respond to increasing competitive pressures and industry consolidation by expanding its specialized offerings and geographic reach.

Overall, the acquisition marks a significant step in Alistar’s strategy to lead the AI transformation in fashion and retail, delivering scalable, data-driven solutions that meet evolving market demands.