It has been revealed that FootFall has been bought by Tyco Retail Solutions. The latter says that such an acquisition will support its future innovation strategy and growth, and will help further its attempts to offer a combined business intelligence (BI) tool that can be deployed to customers through its global network.
Tyco Retail Solutions is the retail performance and security operations of Tyco. It is deployed by over 80% of the world’s top 200 retailers, from global enterprises to single-store boutiques. Providing real-time visibility to retailers, executives can keep an eye on assets and inventory levels whilst optimising profitability and creating memorable customer journeys. With the latest acquisition of FootFall, it is hoped this innovative can be supplemented and continue to grow.
In the latest purchase, it was revealed that FootFall was bought from Experian for £38.5m. FootFall is based in the UK and offers end-to-end technology and services to thousands of retailers. BI solutions are also provided so that retail property owners can gather, measure and analyse the customer traffic coming into their stores. The company currently manages more than 50,000 devices deployed across 13,000 retail sites, capturing the data of over 15 billion shopper visits, including those in North America, Asia Pacific and Europe.
FootFall has been a trusted advisor and BI expert for over 20 years, giving retailers confidence that they will have a scalable tool that can be utilised by multinational operations if required. As a result of the acquisition, Tyco Retail Solutions and FootFall will help to speed up the delivery of commercial traffic intelligence and shopper analytics solutions. This combined tool will be offered via Tyco’s professional services and installation network.
Nancy Chisholm, the president of Tyco Retail Solutions, stated: “The FootFall acquisition not only complements our existing portfolio of information-based store performance solutions for our retail customers, but also is consistent with Tyco’s growth and innovation strategy. This strategic investment positions Tyco as a leading provider of traffic intelligence solutions globally, while strengthening and differentiating our Internet of Things (IoT) solutions that deliver real-time visibility with predictive capabilities into inventory, shrink and shopper behaviour.”
For customers of both Tyco and FootFall, the sale should mean that even better solutions are rolled out in the immediate future. This should ensure that retailers can continue to gain in-depth analysis of their customer traffic and build better consumer journeys to help shoppers and the profit line alike.
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