SAP buying Canadian retail software maker
Toronto-based Triversity, which has 228 employees, specializes in point-of-sale software for merchants.
Toronto-based Triversity, which has 228 employees, specializes in point-of-sale software for the retail industry--an area in which SAP sees high growth potential and wants to boost its offering.
SAP, which lost a bidding war for U.S. retail-software specialist Retek to archrival Oracle in March, said Triversity was North America's leading point-of-sale software maker with more than 250 retail customers.
The German company and Triversity already share many clients, including cosmetics retailer The Body Shop and Canada's largest bookseller, Indigo Books.
SAP said the acquisition, which it expects to complete in October, would help it offer companies better intelligence on their retail operations, connecting data from consumers at the point of sale through the supply chain to the back office.
"SAP sees the retail industry as a significant growth opportunity, as retailers move away from in-house software development in favor of standard software," the company said in a statement.
SAP shares were 0.7 percent lower at 142.43 euros by 0832 GMT, outperforming the broader market , which fell 1.3 percent on uncertainty about the outcome of a close-run Germany's general election on Sunday.