NEWS19 February 2020

Trax buys Qopius

Asia Pacific Data analytics Europe M&A News Retail

SINGAPORE – Retail analytics firm, Trax, has acquired European AI-based in-store tech firm, Qopius, for an undisclosed amount.

Retailers and consumer goods manufacturers use Trax’s in-store execution and retail analytics to help manage on-shelf availability and merchandising. It uses image recognition algorithms which convert photos of retail shelves into shelf and store-level insights.

This can now be combined with Qopius’ computer vision platform which helps retailers monitor in real-time on-shelf inventory for out of stocks, compliance, inventory levels and price. Qopius’ customers include retailers such as Carrefour, Casino, Metro and MediaMarktSaturn Retail Group.

Trax CEO and co-founder Joel Bar-El said: “The key to retail success in the new decade is using technology to support employees. This means capturing critical shelf data in real-time to enable employees to fix merchandising and availability issues faster than ever before. Qopius’ proven expertise in digitising supermarket shelves across Europe and talent make it a strategic fit for Trax.”

Qopius co-founder Roy Moussa added: “Qopius’ mission is to transform brick-and-mortar into a data-driven and frictionless operation, while empowering store employees to focus on providing the best customer experience.”

@RESEARCH LIVE

0 Comments