SAP To Acquire Retail Software MakerSAP To Acquire Retail Software Maker

SAP AG on Monday said it has agreed to acquire privately held Triversity, a Toronto-based maker of point-of-sale retail software. Financial details were not disclosed.

Triversity's technology is expected to provide SAP with products that cover point of sale, through the retail supply chain and to the corporate back office, the German software maker said.

“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 chief executive of SAP America Inc., said in a statement.

SAP said the two companies have a "strong list" of joint customers, including The Body Shop, Casa Ley, Indigo Books, Wawa and Trader Joe's. SAP has 2,700 customers in the retail industry worldwide, while Triversity has 250 in North America.

The acquisition is expected to be completed in October.

In March, SAP lost a bidding war with Oracle Corp. for retail-software maker Retek Inc. of Minneapolis. Oracle won with an offer of $11.25 a share, or $670 million. SAP had first offered $8.50 a share. Retek had a broader portfolio of products than Triversity.