7th Apr 2015 06:46
LONDON (Alliance News) - Universe Group PLC Tuesday said it has acquired retail software supplier Spedinorcon Ltd in order to extend its product offering, widen its customer base and end markets, and enhance its technical expertise.
Universe, a developer and supplier of point of sale payment and online loyalty systems, didn't say how much it paid for Spedinorcon or provide other financial details of the agreement.
Spedinorcon, which has its own suite of software products, also co-owns the rights to software which enables retailers to control the distribution of newspapers and magazines, and manage stock levels, returns and automated pricing updates.
It currently supplies systems to more than 1,500 retail stores throughout the UK, many within the Londis and Costcutter chains.
"I am delighted to announce the acquisition of Spedi. Spedi's products, brands and market position within the retail sector are highly complementary to ours and its addition is strategically important to us. We have made good progress in extending Universe's presence within the sizable and growing convenience store market and Spedi further strengthens our position here," Universe Chief Executive Jeremy Lewis said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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