Advan Research Corp., a provider of foot traffic and transaction data analytics in the financial, real estate and retail industries, announced its acquisition of Real Estate Intelligence (REI) from RetailStat, a retailer health data and analytics company.
REI is the mobile device location data powered analytics component of RetailStat, comprising a Retail Real Estate custom graphical user interface and associated data feeds. The transaction follows Advan’s recent acquisition of SafeGraph’s Patterns business, which included location data analytics.
The financial terms of the deal were not disclosed. The companies stated RetailStat will now concentrate on retailer financial health, grocery analytics, and point of interest data while continuing a partnership with Advan on providing credit scores and grocery rankings through the REI platform.
“We are excited by the addition of REI to our portfolio of analytics powered businesses,” said Advan CEO Grigorios Reppas. “The REI platform in particular is a uniquely powerful tool offering true insights into the performance of any retail establishment. Trade areas, void analysis, site selection, traffic ranking, demographic and psychographic customer views, along with other location visitation metrics, help drive actionable insights for real estate and retail participants.”
“Our goal with this transaction was to choose the best cellphone location analytics company to drive REI so that our customers can continue to receive the same quality of service,” added RetailState CEO Sondra Scott, who added that her company “is now in a position to fully direct its resources to continue to excel in the financial and credit ratings, custom retail and grocery analytics, and point of interest verticals.”
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