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Multi-channel system provider Swan Retail has confirmed the acquisition of a division of a retail software company.

Formerly known as Torex Retail, the latest acquisition by Swan aims to strengthening its position in its core market sectors of furniture retailing and department stores, and also becomes the company’s second major purchase within three years.

Swan has acquired the intellectual property rights to the FRS, MIDAS and Manna applications, as well as all staff and assets.

Swan confirmed that whilst it will be retaining the ‘many years’ of valuable knowledge and expertise of the current team’, it would be complemented by its existing ‘implementation resources and support infrastructure’.

The acquisition positions Swan as one of the largest solution providers in two of its key targeted retail sectors, adding over 100 retailers and 250 branches to its existing user base.

David Thompson, Swan’s managing director, said: “This acquisition propels Swan Retail to the next level, with a solid platform to grow our market leading position and focus within our key market sectors.

“The additional software and technical resources will enable us to expand the functionality across our suite of industry leading solutions.”