RetailNext, a retail analytics company has announced its acquisition of Pikato, a mobile content startup for an amount undisclosed.
Founded in 2007 by Alexei Agratchev, RetailNext was started to apply Big Data to physical retail. The San Jose based company delivers real-time analytics and allow retailers, shopping centers and manufacturers to collect, analyze and visualize in-store data. “No other company in the sector comes close to delivering the depth of innovations in our patented products, the size of our global retail installation base or our annual revenue,” said Agratchev.
On the other hand, the Chicago-based Pikato enables retailers to offer targeted, time-sensitive promotional offers, coupons and product information within their brand and mobile assets. The acquisition of Pikato is expected to help in expansion of the RetailNext’s products to assist the physical retailers optimize customers visits the same way online retailers have done for all these years.
The acquisition seems to have followed the RetailNext’s recent fund-raising of $125 million in Series E round of funding led by Activant Capital along with August Capital, Commerce Ventures, Nokia Growth Partners, Pereg Ventures, Qualcomm Ventures, Siguler Guff & Co and StarVest partners. Apart from the acquisition, the company plans to use the funding capital to expand its operations in Europe, Asia-Pacific, Latin America and other upcoming markets in the world. It also plans to invest in extensive R&D of its software-as-a-service platform.