RetailNext, a provider of brick-and-mortar retail analytics, has acquired Nearbuy Systems, a location-based Wi-Fi analytics company. Financial terms of the deal were not disclosed.
Per the agreement, Nearbuy technology will be integrated into the RetailNext platform.
The acquisition is designed to assist RetailNext in its pursuit of aggressive growth plans. Specifically, the business transition will enable RetailNext to:
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- Grow total employee base to more than 120 people worldwide;
- Expand its global partner network to include guest Wi-Fi leaders Motorola Solutions and AT&T;
- Integrate with Wi-Fi infrastructures, guest and opt-in Wi-Fi analytics and browsing analytics;
- Add new retailers to its current customer roster; and
- Improve its patent portfolio.
The Nearbuy solution is designed to help retailers engage omnichannel shoppers using opt-in guest Wi-Fi, create a single view of customer behavior across all channels and influence in-store purchases through personalized campaigns.
“We are thrilled to join the RetailNext team where we can contribute to building the most advanced in-store analytics platform for retailers around the world,” said Bryan Wargo, CEO of Nearbuy Systems. “We are confident that with the combination of top-tier talent and the common drive for innovation, we have the opportunity to continue developing cutting-edge technology that will enable retailers to gain unprecedented insights into their stores.”