SAP has bought Canadian retail software company Triversity for an undisclosed sum.
The acquisition will help SAP expand its product offering in the retail sector, especially in point-of-sale systems, the software maker said. It expects to close the deal in October.
With 250 customers in 32 countries, Triversity offers software covering store inventory management, customer loyalty programs and multi-channel customer service.
SAP views the retail industry as a significant growth opportunity as retailers move away from in-house software systems to standard software systems.
"The acquisition of Triversity falls right in line with our strategy of acquiring companies to enhance product functionality and extend our leading position within key industry verticals," said SAP chief exec Bill McDermott. "Our acquisition strategy is not to acquire customers, but rather to help serve our customers better. With Triversity’s customer-centric, market-leading point-of-sale solutions becoming part of the SAP for Retail solution portfolio, we can better serve our customers with an end-to-end retail offering, connecting data from initial consumer interactions at the point of sale, through the retail supply chain, to the enterprise back office."
Of course, Triversity claim to be delighted as well. "We are very excited to join the SAP family," said its CEO Dave Thomas. "In SAP, we are joining the worldwide leader in business applications, the number-one provider of solutions to the retail industry and a company with enormous resources in research and development. By leveraging the best of our combined assets, we can provide our existing and potential new customers with the best retail solution on the market today."