MRI Software acquires retail footfall counting and AI-powered analytics business

Global real estate software solutions business, MRI Software, has acquired UK-based Springboard, a leading provider of AI-powered step counting and analytics for retailers, landlords and government agencies.

Founded in 2002, Springboard owns the industry’s largest and most comprehensive dataset on footfalls. Serving more than 450 clients at more than 3,000 sites, the company is trusted by global media, brands and governing bodies for its data accuracy, reporting quality and retail insights.

The acquisition will see MRI expand its suite of [email protected]™ solutions for retailers, which currently serves more than 500 retailers and retail property owners and operators worldwide.

Leveraging plug-and-play software, existing camera networks, and proprietary AI-powered algorithms, the Springboard™ solution provides real-time data and actionable insights, enabling retail stakeholders to optimize operations. and improve results for both individual retail locations and retail destinations. The solution continuously measures visitor activity, capturing anonymized demographic and sentiment information while identifying behavioral patterns, such as movement and dwell time, and presents this information through a comprehensive, easy-to-use reporting platform.

Patrick Ghilani, CEO of MRI Software, said of the acquisition: “Springboard is an exciting addition to the MRI family that will strengthen our retail and smart data offerings and provide customers with deeper insights to guide their business decisions. In light of post-pandemic changes in the retail landscape, in-store technology adoption has become increasingly critical, with brick-and-mortar locations playing a more prominent role in a redefined shopper and guest experience. Springboard’s intelligent, actionable data enables retail stakeholders to increase shopper traffic and engagement, improve capture and conversation rates, and ultimately level the analytical playing field between e-commerce and physical stores. ”.

Steve Booth, CEO of Springboard, commented: “Our customers will greatly benefit from Springboard joining an organization with a global scale and broad portfolio of MRI solutions, and we look forward to bringing our solutions to their dynamic community of customers. Footfall is a great indicator of business performance, and ultimately accurate data helps businesses make faster, more informed decisions that optimize store operations and generate more revenue. We look forward to continuing to innovate in collaboration with the MRI team.”

The Springboard and YFM advisors were: Grant Thornton of corporate finance (Mike Hughes, John Whitney) and tax advisory (Hazel Platt) along with EMW Law (legals; Ian Morris and Daisy Divoka) and CIL (business diligence, Mike Hallett).

Webinar: Using technology to help FMs comply with ESG

FMJ, in partnership with PlanRadar, is pleased to bring together a panel of experts to discuss how to achieve ESG using the power of digitization.

According to the Environmental Audit Committee (EAC), the UK’s built environment is responsible for 25 per cent of UK greenhouse gas emissions, and a large proportion of commercial stock in the UK requires further investment. to be environmentally sustainable. With climate deadlines approaching, urgent action is needed.

The pandemic taught us the importance of using digital technology to protect people. FMs are now aware of the use of accurate data to help manage assets and occupants, by optimizing maintenance schedules, monitoring the performance of building assets, and measuring the amount of energy being used.

FMs have a key role in meeting ESG goals, including:

* Ambient: Meet sustainability goals, including net-zero emissions, waste reduction and recycling goals

* Social: Maintaining health and safety, providing social value, equality and diversity, duty of care and investment in skills

* Governance: Compliance with all regulatory requirements and legislation, and reduction of errors through the use of robust data processes.

The webinar will take place on October 11 at 11 am

Sign up for the webinar here.

If you are unable to attend, please register and we will send you a recording of the post-event webinar.

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