You are here
Extending its market leadership in providing end-to-end solutions for the retail industry, SAP AG announced it is acquiring privately-held, Toronto, Canada-based Triversity, a leading North American provider of point-of-sale (POS) software solutions.
For nearly two decades, Triversity has been a leader in the worldwide retail marketplace with solutions deployed in 32 countries. The company delivers flexible, comprehensive, retail market-leading solutions that include traditional and enterprise point-of-sale, store inventory management, POS loss prevention, customer loyalty, stored value, back-office, in-store and multi-channel customer service.
These solutions are highly complementary to SAP's existing retail solution offering, and SAP and Triversity already have a strong list of joint customers including Wawa and Trader Joe's, the company reported.
"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 Bill McDermott, president and CEO, SAP America, Inc. “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."
SAP is the global market leader for retail enterprise applications, with more than 2,700 customers in the retail industry worldwide. With more than 250 retail customers, Triversity is a North American market leader in point-of-sale solutions and brings proven functionality and experience in this key area to SAP's retail solution portfolio.
SAP sees the retail industry as a significant growth opportunity, as retailers move away from in-house software development in favor of standard software solutions. Triversity's highly flexible solutions will complement SAP's portfolio of retail software, tightly integrated through the SAP NetWeaver platform.
Built on SAP NetWeaver, the SAP for Retail solution portfolio allows retailers to leverage existing IT investments in an integrated solution landscape. The platform helps reduce the complexity of IT while driving innovation, reducing costs and pursuing flexible business strategies, according to the company.
The acquisition is expected to be complete in October and financial terms of the transaction were not disclosed.