Strategic investment underscores Tyco’s commitment to open innovation and standards
NEUHAUSEN, Switzerland—July 9, 2014—Tyco Retail Solutions (www.tycoretailsolutions.com), a leading global provider of retail performance and security solutions, today announced Tyco has made an equity investment in RetailNext, an innovator in Big Data solutions for retail. RetailNext offers unique and comprehensive real-time analytics, particularly in the traffic intelligence space, empowering retailers to collect and analyze in-store data. Tyco will leverage this partnership to deliver added value to its global customer base of more than 185,000 stores.
“To best position RetailNext in the multi-billion dollar global retail analytics market, we were seeking investors who would bring core competencies to enhance our business,” said Alexei Agratchev, Founder and Chief Executive Officer of RetailNext. "Tyco is a company with global reach and deployment capabilities, and we are privileged to have the company as a shareholder and strategic partner.”
Retailers around the world rely on Tyco solutions to provide actionable insight into their business to improve operations and security, optimize profitability, and create memorable shopper experiences. With an open architecture approach, Tyco’s TrueVUE Retail Platform enables retailers to leverage and integrate the power of blended store shopper, and employee data from multiple applications, sensor, and video devices. Retailers can gain visibility to valuable in-store activity through Tyco’s portfolio of data capture devices, including cameras, readers, pedestals, antennas and sensors. Tyco’s investment in RetailNext further underscores its strategic commitment to open innovation and standards, allowing retailers to conduct detailed, real-time analysis for improved merchandising, operations and customer service.
“Our organization has long been committed to finding innovative ways to add value for our customers. Whether through new services or technologies, our team is focused on driving and delivering actionable insights that solve significant retailer challenges,” said Nancy Chisholm, Vice President and General Manager, Tyco Retail Solutions. “This equity investment in RetailNext complements our open innovation strategy and comprehensive portfolio of in-store devices. We are excited about the near-term and long-term benefits it will deliver to our customers.”
Filed under Business Intelligence; Inventory Intelligence; Tyco CorporateKeywords analytics; retail operation
Published on 7/9/2014 Permalink