Tyco closes ShopperTrak acquisition
CORK, Ireland—Tyco on Jan. 26 announced that it has completed the $175 million cash acquisition of ShopperTrak, a Chicago-based global provider of analytics for the retail industry.
Tyco announced its intention to acquire ShopperTrak, which currently generates $75 million in annual revenues, in December.
ShopperTrak's solutions include perimeter traffic counting, in-store consumer behavior analytics and industry benchmarking.
Tyco plans to combine ShopperTrak capabilities with its existing loss prevention, inventory intelligence and retail traffic analytics solutions, bringing “retailers a unique combination of insights that they can use to make more informed decisions to improve their revenue and profitability,” Tyco said in its announcement.
In a Jan. 25 conference call regarding the Johnson Controls/Tyco merger, both JCI CEO Alex Molinaroli and Tyco CEO George Oliver, spoke about the importance of providing data analytics to customers. Molinaroli noted in particular, “the insight [Tyco] provides customers in the retail space.” Oliver said the “real opportunity” for the combined company is “the Internet of Things and smart buildings.” Part of that is “utilizing data generated from our customers [that enables us to] give them information that will help them operate their facilities and understand their business.”