- Announced the completion of its previously announced acquisition of the intellectual property assets of Digital2Go Medial Networks, Inc. d/b/a Locally pursuant to an asset purchase agreement between the Company and Locally dated February 16, 2021
- Locally is a technology company focused on providing location data intelligence and real-time consumer engagement.
VANCOUVER, British Columbia, Feb. 18, 2021 — Loop Insights Inc. (MTRX:TSXV) (RACMF:OTCQB) (“ Loop ” or the “ Company ”), a provider of contactless solutions and artificial intelligence (” AI “) to drive automated marketing, venue tracing, and contactless solutions to the brick and mortar space, is pleased to announce the completion of its previously announced acquisition (the “ Acquisition ”) of the intellectual property assets of Digital2Go Medial Networks, Inc. d/b/a Locally (“ Locally ”) pursuant to an asset purchase agreement between the Company and Locally dated February 16, 2021 (the “ APA ”). Locally is a technology company focused on providing location data intelligence and real-time consumer engagement.
Locally Acquisition Provides Loop Insights with Unparalleled Location-Based Retail Insights, Foothold in $28.95-billion Location-Based Services Industry
Rampant digitization and the increasing use of smartphones have helped grow the location-based services market to $28.95 billion in 2019, according to Allied Market Research .
As a leader in human movement intelligence data, Locally has positioned itself to enable businesses to connect their physical and digital databases through mobile location insights and marketing integration capabilities. Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11, and others access deep consumer behavioral insights across all of their marketing activation channels.
The acquisition of Locally will allow Loop Insights to incorporate Locally’s location-based data and engagement capabilities, providing Loop with new revenue opportunities with brands and retailers looking to capitalize on the increasing use of location-based services.
Loop Insights CEO, Rob Anson, stated: ”The stakes have been raised in terms of brand and consumer expectations and interactions, with consumers demanding that brands cater to their individual preferences. The unique combination of Loop’s retail transaction data capabilities and the Locally location-based engagement platform has significantly improved Loop’s capabilities across retail, hospitality, and live sports and entertainment verticals, further enabling us to amplify frictionless experiences inside and outside nearly any physical location. With over 50 billion location signals collected to date, Locally was an obvious fit to acquire and incorporate into Loop’s product offerings, and will make an immediate impact on our already robust pipeline.”
Loop’s enhanced location-based capabilities will be applicable to nearly all of its clients, creating meaningful, dynamic, and personal connections with consumers, while providing retailers with unparalleled retail insights. By connecting transaction information to the unique IDs of users, Loop is able to drive targeted marketing opportunities and real-time engagement directly to customers through its wallet pass and other engagement capabilities.
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