TYCO INTERNATIONAL TO PURCHASE SHOPPERTRAK FOR $175 MILLION
Tyco International has reached a definitive agreement to acquire Chicago-based ShopperTrak, a global provider of retail consumer behavior insights and location-based analytics, for approximately $175 million in cash. ShopperTrak has 1,200 retailers in 97 countries.
The acquisition is expected to be neutral to earnings in the first 12 months to Tyco, and Tyco’s fiscal 2016 earnings per guidance for the first quarter and full year remain unchanged. This transaction is expected to close in Tyco’s fiscal second quarter.
“Tyco is working with the world’s leading retailers to meet their omni-channel needs and respond to changing consumer behavior,” said Girish Rishi, Tyco’s executive vice president, North America integrated solutions & services and global retail solutions. “The ShopperTrak acquisition will enable us to help retailers effectively improve the shopper’s experience, thus enhancing their revenues and profitability. The ShopperTrak and FootFall acquisitions will build on our well established inventory visibility and loss prevention solutions for retailers. This is core to Tyco’s strategy to leverage our Internet of Things capabilities, capturing and analyzing data to provide actionable insights to help solve customer problems and support them in achieving their broader mission.”
The purchase of ShopperTrak and the recent acquisition of U.K.-based retail traffic analytics company FootFall will allow Tyco to capture data from 35 billion shopper visits annually.
