It’s been a BIG day at RetailNext as we officially announced the strategic acquisition of the industry leader and largest provider of in-store, opt-in guest Wi-Fi analytics — Nearbuy Systems. With more than 1,000 stores installed in the last year and more than 100,000 new users opting in every day through the Nearbuy platform, Nearbuy Systems leads the Wi-Fi Analytics market. Together, we have the opportunity to transform the retail industry and to develop cutting-edge technology that will enable retailers to collect and analyze every aspect of data needed to gain a complete view of what happens in their stores.
Visit the TechCrunch article, “RetailNext Acquires Eric-Schmidt-Backed Wi-Fi Analytics Company, Nearbuy Systems” for an in-depth look at the deal.
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’s mission matches ours in that we both strive 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 to engage valuable omnichannel shoppers with opt-in guest Wi-Fi, create a single view of customer behavior channels, and influence purchases while they are in the store through personalized campaigns.
Together, we have invested more than $30 million in R&D to deliver ecommerce-style analytics to physical stores and shopping centers as well as enable retailers to implement sound personalization and omnichannel strategies. RetailNext is growing over 100% year-over-year and have more than 100 large-scale, global retailers actively using the RetailNext platform. With the Nearbuy integration, RetailNext is modernizing the retail industry by offering the most comprehensive solution for Applied Big Data for physical retail – the most features, data types and data analytics.
We welcome the Nearbuy team to join the RetailNext family in building the most advanced in-store analytics platform worldwide, and can’t wait to get started!
For the official press release, visit our press webpage.