- Loop Insights (MTRX) acquires Intellectual Property assets of Locally, a global location data intelligence company with tier-1 clients
- Locally is a technology company focused on providing location data intelligence and real-time consumer engagement
- The acquisition of Locally will provide Loop Insights with new revenue opportunities with brands and retailers
- Loop issued 166,250 common shares to Locally at a price of C$1.20 per share for aggregate consideration of C$199,500
- Loop Insights (MTRX) is down 6.43 per cent, trading at C$1.31 at 1:30 pm EST.
Loop Insights (MTRX) acquires intellectual property assets of Locally, a global location data intelligence company with tier-1 clients
Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11, and others access deep consumer behavioural insights across all of their marketing activation channels.
The acquisition of Locally will allow Loop Insights to incorporate Locally’s location-based data and engagement capabilities, providing Loop with new revenue opportunities with brands and retailers looking to capitalize on the increasing use of location-based services.
Loop Insights CEO, Rob Anson stated: ”The stakes have been raised in terms of brand and consumer expectations and interactions, with consumers demanding that brands cater to their individual preferences. The unique combination of Loop’s retail transaction data capabilities and the Locally location-based engagement platform has significantly improved Loop’s capabilities across retail, hospitality, and live sports and entertainment verticals, further enabling us to amplify frictionless experiences inside and outside nearly any physical location.
With over 50 billion location signals collected to date, Locally was an obvious fit to acquire and incorporate into Loop’s product offerings, and will make an immediate impact on our already robust pipeline.”
Loop’s enhanced location-based capabilities will provide retailers with unparalleled retail insights. By connecting transaction information to the unique IDs of users, Loop is able to drive targeted marketing opportunities and real-time engagement directly to customers through its wallet pass and other engagement capabilities.
The acquisition of Locally will allow Loop Insights to fully integrate location-based information with transaction data to provide clients with a comprehensive overview of their guests and their spending habits.
Loop issued 166,250 common shares in the capital of the company at a price of C$1.20 per share for aggregate consideration of C$199,500 to Locally.
Locally is a provider of a location and contextual engagement platform intended to bridge the gap between the locations and consumers that visit them.
Loop Insights is a Vancouver-based technology company that has developed a proprietary platform that harnesses the power of AI to deliver retail insights to brands and brick-and-mortar businesses.
Loop Insights (MTRX) is down 6.43 per cent, trading at C$1.31 at 1:30 pm EST.