- Data analytics company Skyfii (SKF) is set to acquire customer insights technology platform Blix
- Blix’s portfolio of customers includes blue-chip brands such as Porsche, Volkswagen, Hyundai, Toyota, Chanel, and Swarovski
- Skyfii will pay an initial cash consideration of $300,000, plus a later earnout payment, for the acquisition
- The company expects the acquisition to further diversify its customer base, especially in the automotive and retail sectors
- Skyfii closed 2.56 per cent in the green for 20 cents per share
Data analytics company Skyfii (SKF) is set to acquire customer insights technology platform Blix.
Headquartered in Australia, Blix sells and manages an analytics technology platform called CountSmart, which combines WiFi and people-counting technology.
The solution counts foot traffic, measures sales conversion, manages staffing rostering, and improves general business efficiency of small to medium-sized venues.
Blix’s customer base is mostly in Australia and New Zealand, although the company has a growing number of clients in North America and Asia. The company’s portfolio of customers include well-known, blue-chip brands like Porsche, Volkswagen, Hyundai, Toyota, Country Road Group, Chanel, Swarovski, and Watches of Switzerland.
Skyfii’s CEO, Wayne Arthur, said the transaction further strengthens the company’s position within the market, and provides further expansion into automotive and retail sectors.
“The acquisition reinforces our strategic focus on delivering a diversified mix of products and services into physical venues globally and supports our stated strategy to grow both organically and via accretive and complementary acquisitions.
“The Blix product and technology solution represents a cost-effective solution for small to medium sized venues, whilst delivering valuable insights to inform staff rostering, sales conversion, repeat visitation, and customer dwell times.
“Skyfii’s ability to deliver the Blix technology into offshore markets, specifically the high value Automotive and Retail market in the USA, will drive significant upside from existing revenue levels and underpins the strategic rationale for the transaction,” he said.
The earnout payment will be based on a percentage of annualised first qaurter FY22 revenue contribution from current and pipeline Blix customers. Skyfii will pay the earnout sometime during 2022’s second quarter.
Skyfii closed 2.56 per cent in the green for $0.20 per share.