IT retail solution provider firm, Software Paradigms Infotech (SPI) has acquired U.S-based, mobile and ecommerce solutions provider for retailers firm, QwikCart. It has acquired all assets of QwikCart, along with its patent-pending mobile ecommerce software platform. The amount of the deal has been undisclosed.
SIP has aggressive plans for growth this year, owing to which it acquired QwikCart, that provides mobile and ecommerce solutions to retailers to enable purchase of goods and services anywhere, anytime for pick-up, delivery or shipping. This is SIP’s eighth acquisition. Prior to this, the company had acquired Bangalore-based Comat Technologies, Nepal-based WorldLink Technologies, Atlanta-based Circle Technologies Inc, US-based ITR Software, Shiloh Technologies and Direct Tech, Inc.
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Commenting the acquisition, Sid Mookerji, Global CEO of SPI, said, “Strategically, this asset acquisition gives us a speed-to-market advantage that is very significant and critical in our goal to be the ‘Right Retail Partner.”
Founded in 1994, Software Paradigms International Group, LLC (SPI), is headquartered in Atlanta. It had established its first offshore development center in Mysore in 1997. The company aims at providing complete Retail IT services and solutions for retailers around the globe. Basis its services and solutions SIP was awarded the “Excellence in Exports Award” for Mysore region, by the Karnataka Government for two consecutive years in 2004 & 2005.
The influence of web, mobility, and social networking is reshaping retail commerce. Experts are of the view that companies like Mobikwik and Paytm are providing unlimited channel of purchase transaction to their consumers. Also, the growth of smartphone and ecommerce marketplaces is marking a change in the way customers purchase. This shift in the consumer shopping behavior creates new expectations for personalization and a unified omni-channel experience that retailers must address to be successful.