Leading tech M&A advisory firm Corum Group International announced today that its client, Helsinki-based RapidBlue Solutions Oy, a leading European provider of retail data and analytics, has been acquired by ShopperTrak, the world’s largest counter and analyzer of retail foot traffic, headquartered in Chicago, Illinois.
RapidBlue uses radio frequency technology to collect shopper movement information transmitted by mobile phones. The company transforms the anonymous data into information and insights that retailers can use to manage the marketing, merchandising and operations of their businesses.
“This acquisition is win-win for both sides,” said Corum Director Mark Johnson, based in Stockholm. “It provides ShopperTrak with both robust analytic technology and a first-class European research and development center, while RapidBlue will be integrated with ShopperTrak’s comprehensive suite of technology and services.”
“Corum’s team and process were critical in achieving this outcome,” noted RapidBlue CEO Gavin Weigh. “In particular in helping navigate the complications in a cross-continental acquisition.”
“This acquisition expands our offerings and allows us to provide retailers and mall owners with unprecedented access to the vital shopper insights that drive their businesses,” said Christopher Ainsley, CEO of ShopperTrak. "RapidBlue’s ability to collect anonymized data based on shopper movement inside stores increases the value of our portfolio of industry-leading products and services.”