Visit Intelligence acquires Innorange
Visit Intelligence Oy has acquired retail analytics company Innorange Oy for undisclosed amount. In 2016 Visit Intelligence made a capital investment in Innorange starting the strategic partnership between the two Finnish companies.
Due to the huge success with the retail analytics solutions provided by the companies, in March 30th 2017 Visit Intelligence acquired Innorange. The transaction has substantial strategic and financial benefits in the fast growing retail analytics market.
“Immediately after the initial investment we established a strong certainty that the steps taken were towards the right direction and Visit Intelligence wanted to tighten the partnership,” says Lauri Ruononen, The CEO of Visit Intelligence Oy.” There is high demand for advanced visitor analytics in retail market. The acquisition will further strengthen Visit Intelligence’s competence by enabling it to offer its customers comprehensive analysis on in-store visitor measurements and behavior to improve customer satisfaction and the profitability of commercial premises.”
After the acquisition Innorange continues working as a subsidiary. Innorange has built a strong brand in WiFi analytics solution both in retail and OEM markets. Visit Intelligence is internationally known for its retail analytics trademark Visit®.
“The integrated solution portfolio has already proven itself in the market place including EuroShop trade fair where we closed multiple orders during the event,” says Antti Lappeteläinen, Chairman of Innorange Oy and the new CTO of Visit Intelligence Oy.
The services will continue normally as before without any concerns to the customer. Visit Intelligence welcomes Innorange team and new board members to the “Visit” family.
Visit Intelligence in brief
Visit Intelligence Oy (formerly Teknovisio Oy) produces solutions for analysing visitor volumes as well as visitor routes and behaviour in commercial premises.
Globally more than 3 000 stores and shopping centers among others use Visit®. For example, about 60% of shopping centres in Finland use the Visit®. Visit® is a trademark owned by Visit Intelligence Oy.
Innorange in brief
Innorange Oy is a supplier of innovative measurement systems utilising location information. The solutions Innorange develops are used for customer analysis, not only in the retail sector, but also for measuring traffic flows and the behaviour of pedestrians.