The move is the latest in a series of deals NIQ has made to strengthen its analytics and retailer tools. In April this year, the company announced its acquisition of sensory insights platform Gastrograph AI.

The acquisition of Mtrix is also the first for NIQ in Latin America (Latam) since it became part of Advent International’s portfolio in 2021.

Mtrix’s platform integrates data between manufacturers, wholesalers and distributors, offering insights on stock levels and other activity.

The company’s client base includes many of the largest consumer packaged-goods manufacturers in the Latam region.

NIQ will integrate Mtrix to its global retail measurement platform, which NIQ said would bring greater visibility of indirect distribution channels including small independent retailers and local markets.

The financial terms of the agreement have not been disclosed. Following the acquisition, Mtrix will continue to operate in Brazil, with plans to expand internationally as part of NIQ.

Jim Peck, chief executive at NIQ, said the acquisition strengthens the company’s ability to offer “more granular, daily insights that enhance decision-making across retail, trade marketing and supply chain operations”.