Tyco Retail Solutions, the retail performance and security business of Tyco, has acquired FootFall, a global retail intelligence leader, from Experian, plc, for £ 38.5 million (US$60 million) in cash.
Headquartered in the United Kingdom, FootFall provides thousands of retailers and retail property owners with end-to-end technology, services and retail analytics solutions to collect, measure, and analyse customer traffic in their stores and property portfolios. FootFall manages over 50,000 devices installed in approximately 13,000 retail sites, which capture over 15 billion shopper visits across 11 markets in Europe, Asia Pacific, and North America.
For two decades, FootFall has been a trusted advisor and intelligence expert with a proven track record of rolling out scalable, integrated solutions to multinational retailers. Together, FootFall and Tyco Retail Solutions will accelerate commercial delivery of shopper analytics and traffic intelligence solutions for retailers worldwide. The combined offering, deployed through Tyco's global professional services and installation network, helps retailers drive revenue, optimise operations and enhance merchandising programs.
"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," said Nancy Chisholm, President, Tyco Retail Solutions. "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 behavior."
The addition of FootFall to Tyco's operations is expected to generate approximately $39.0 million in revenue on an annualised basis.