Mysore-based SPI acquires ITR Software

MYSORE, INDIA: IT services and solutions provider Software Paradigms Infotech Pvt. Ltd. (SPI) has acquired ITR Software, a New Jersey based Software and Services organization that is dedicated to providing merchandising solutions to the retail industry.

ITR Software has a set of business intelligence tools that assist in the retailer buying process.

Sid Mookerji, Global CEO and Co Founder of SPI said: "Currently, only 5 percent of our revenue comes from product and solutions business and we plan to make it to 20 percent by 2015."

"The latest acquisition is part of the company's 2015 strategy to cater to the evolving needs of retailers worldwide and to position SPI as a differentiators and as an end-to-end retail services and solutions provider," added Mookerji.

ITRs technology will help relieve planners, buyers, allocators and buying office staff from tedious and frustrating traditional approaches.

Their SPIN Analytics, Forecasting, Pre-season Assortment Planning, Purchasing, Allocation and In-season Merchandise Optimization facilities provide the retailer's staff with an effective merchandise performance tool, said SPI.

SPI claims that they have positioned as 'The Right Retail Partner" with an umbrella of services catering to the Retail domain; therefore the acquisition of ITR Software, a company that serves the same segment, is of strategic importance to the company.

Besides focusing on building IT Products and Retail Solutions, SPI is also growing inorganically by adding to its existing portfolio of products and services through acquisitions and mergers.