US-based real estate software specialist MRI Software has announced its acquisition of UK retail footfall specialist Springboard. The financial terms of the deal have not been disclosed. Springboard, which was founded in 2002, offers artificial intelligence-powered analytics to retailers and landlords, claiming to possess the largest and most comprehensive data set on footfall in the retail industry. Their data provides valuable weekly and monthly insights into the performance of UK high streets, shopping centres, and retail parks.

MRI Software plans to integrate Springboard into its existing ‘MRI@Work for Retail’ solutions suite, which currently serves over 500 retailers and retail property owners globally. Springboard, with over 450 clients across more than 3,000 sites, is highly regarded for the accuracy of its data by global media outlets, brands, and governing bodies.

Patrick Ghilani, the CEO of MRI Software, stated that the acquisition of Springboard will enhance their retail and smart data offerings, enabling clients to gain deeper insights for informed decision-making. He also emphasized the growing importance of in-store technology and the role of physical locations in the evolving shopper and guest experience.

Steve Booth, the CEO of Springboard, expressed excitement about joining MRI Software and leveraging their global scale and solution portfolio. He highlighted the significance of footfall data as a predictor of business performance and the value of precise data in optimizing store operations and driving revenue.

The acquisition of Springboard by MRI Software underscores the growing recognition of the importance of footfall data and analytics in the retail industry. As the retail landscape continues to evolve, retailers and landlords require accurate and actionable insights to navigate market dynamics and enhance the customer experience. By combining MRI Software’s expertise in real estate software with Springboard’s comprehensive footfall data, the companies aim to provide innovative solutions that drive success in an ever-changing environment.

Links to relevant articles:
MRI Software Acquires UK Retail Footfall Specialist Springboard
Springboard Becomes Part of MRI Software