Security and fire prevention powerhouse Tyco International is continuing its march into the retail analytics space with a definitive agreement to purchase ShopperTrak for $175 million. ShopperTrak’s customer traffic counting and analytics solutions are used by more than 1,200 retailers in 97 countries.
The acquisition follows close on the heels of Tyco’s purchase of FootFall, a U.K.-based provider of retail traffic analytics, earlier this year. With the addition of ShopperTrak to Tyco’s portfolio, the company will capture data from 35 billion shopper visits annually.
“The ShopperTrak and Footfall acquisitions will build on our well established inventory visibility and loss prevention solutions for retailers,” said Girish Rishi, Tyco’s EVP for North America Integrated Solutions and Services and Global Retail Solutions, in a statement. “This is core to Tyco’s strategy to leverage our Internet of Things capabilities, capturing and analyzing data to provide actionable insights to help solve customer problems and support them in achieving their broader mission.”
ShopperTrak currently generates approximately $75 million in annual revenue. Tyco reported revenue of $9.9 billion for its last full fiscal year, a 4.4% decrease from the previous year.
The ShopperTrak transaction, which is subject to customary closing conditions and regulatory approvals, is expected to be completed during Tyco’s fiscal second quarter, early in 2016.