RetailNext, Inc., the in-store analytics market leader, announced today the acquisition of Nearbuy Systems, the leading provider of location-based Wi-Fi Analytics solutions for retailers. Based in San Mateo, California, Nearbuy is the largest provider of in-store opt-in analytics, enabling retailers to enhance one-to-one engagement and personalization strategies. Nearbuy's mission has been to help retailers and malls build a competitive advantage in the new world of omnichannel shopping. By leveraging a retailer's existing Wi-Fi infrastructure, Nearbuy provides a fast and powerful way toengage valuable omnichannel shoppers with opt-in guest Wi-Fi,create a single viewof customer behavior channels, andinfluencepurchases while they are in the store 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."
According to Alexei Agratchev, CEO of RetailNext, "RetailNext has invested more than $25 million in R&D to deliver ecommerce-style analytics to physical stores and shopping centers. We are growing over 100% year-over-year and have more than 100 large-scale, global retailers actively using the RetailNext platform. We offer the most comprehensive solution for Applied Big Data for physical retail the most features, data types and data analytics."
"By incorporating an industry leading opt-in guest Wi-Fi Analytics platform and the deep mobile expertise of the Nearbuy team, RetailNext can offer retailers a proven, measurable and best-practice way to collect and analyze every aspect of data needed to gain a complete view of what happens in their stores," added Mr. Agratchev.
With the acquisition, RetailNext will fully integrate Nearbuy's technology and experienced team into its brand, enabling RetailNext to:
- Grow its employee base to more than 120 people worldwide
- Expand its global partner network to include guest Wi-Fi leaders Motorola Solutions and AT&T
- Gain unparalleled wireless industry expertise
Expand its platform to include integration with:
- Leading Wi-Fi infrastructures (Motorola Solutions, Cisco Systems, Aruba, Meraki)
- Guest and opt-in Wi-Fi Analytics
- Browsing analytics within the store (top websites, searches, etc.)
- Add dozens of specialty, department store and mall retailers to its customer roster
- Increase its patent portfolio
"Nearbuy offers the first Wi-Fi Analytics platform with a personalization API that integrates shopper data for more targeted and personalized marketing. We lead the Wi-Fi Analytics market with more than 1,000 stores installed in the last year and more than 100,000 new users opting inevery day through our platform," added Nearbuy Systems CEO Bryan Wargo