US-based customer intelligence firm Market Force Information has bought into Europe with the acquisition of UK-based customer experience and mystery shopping provider Retail Eyes. Terms were not disclosed.
The buy is Market Force's fifth acquisition in five years, and combines two firms each with a range of customer intelligence solutions from mystery shopping to in-store auditing, all on an integrated analytics platform.
The acquisition doubles Market Force's independent contractor network to around 600,000 mystery shoppers and retail auditors, and adds about $13m to its revenue, bringing the total to a forecast $70m for this year.
Retail Eyes' Milton Keynes head office will serve as Market Force's European headquarters and service more than a hundred of the UK and Europe's leading retailers, restaurants and hospitality providers.
Market Force CEO Karl Maier comments: 'As the world becomes increasingly global, our customers need to drive consistent performance across every store, whether in New York, London, Toronto or Berlin. There is no question that Retail Eyes has the most sophisticated customer intelligence business in the UK, with a rapidly growing European practice. This acquisition will enable us to serve our multi-national clients, as well as extend our services to new markets that have huge potential for growth.'
Tim Ogle, CEO of Retail Eyes, says the market for customer intelligence solutions in the UK and Europe is 'just beginning to explode', and adds: 'The scale, product repertoire and Ph.D. analytics that Market Force offers, in combination with our UK and European expertise, makes us a formidable force together in a blossoming international market.'
Launched in the UK in 2003, Retail Eyes is online at www.retaileyes.co.uk . Its new parent's home page is at www.marketforce.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.