LONDON, UK: Eagle Eye Solutions Group has conditionally agreed to purchase the entire issued and to be issued share capital of Untie Nots and its subsidiaries, a number one enterprise based in France offering large retailers with AI powered promotion and gamification SaaS software program solutions.
The preliminary consideration for the acquisition is €15.0 million, with €9.1 million payable in money and €5.9 million in new ordinary shares of Eagle Eye Solutions.
A additional performance-linked earn-out consideration is payable to the promoting shareholders of Untie Nots of as much as €23.8 million in money or new ordinary shares in Eagle Eye Solutions, or a mixture thereof.
Untie Nots is a number one personalised promotions enterprise offering retailers with AI powered promotion and gamification SaaS software program solutions, whose enterprise customers include Carrefour, E. Leclerc and Auchan and different blue-chip retailers in Europe and the US, collectively with Rite Aid.
Untie Nots offers a digital platform which permits retailers to personalise promotions, offering customised challenges to earn rewards with AI and deep machine studying facilitating hyper personalisation through its analytics capability.
Untie Nots’ end-to-end analytics, transactional and user expertise offering will present Eagle Eye with additional product and technology capabilities and an enlarged expertise base, collectively with the Untie Nots co-founders and its present 30 tech-oriented employees.
Untie Nots’ strong attain in France and rising footprint in Europe and the US will expand Eagle Eye’s geographic attain and bring additional blue-chip customers into the Group, offering global cross-selling alternatives throughout complementary buyer bases.
Untie Nots has a profitable track record of buyer acquisition and income growth and is anticipated to obtain roughly fifty three per cent. income CAGR over the three years ending 31 December 2021, pushed by its confirmed functionality to ship higher incremental spend by customers for retailers. The Acquisition is anticipated to be earnings accretive within the primary full year of ownership.
Tim Mason, Eagle Eye Solutions Chief Executive Officer commented: “The acquisition of Untie Nots will present us with accelerated entry into the French digital promotions market, bring a few of Europe’s largest grocers into the Group and add to our rising roster of US clients, offering a wealth of cross-sale opportunities.
At a time when retailers are accelerating their digital promotions actions to retain and develop their buyer bases, we believe Untie Nots’ gamification technology will resonate throughout our buyer base and pipeline. Untie Nots’ buyer list and strong monetary metrics speak to the standard of the business, offering and people behind it, and we’re assured that collectively we will be able to unlock a substantial additional growth opportunity.”
Zyed Jamoussi & Cédric Chéreau, Untie Nots’ Group Managing Directors commented: “By becoming a member of forces with the Eagle Eye family, we will be able to bringing a compelling cloud-based SaaS software program suite to the retail industry loyalty and promotion space. From one-to-one targeting to actual time transactions and gamified buyer experience, we will present the retail industry with the end-to-end solution suite to take their promotion and loyalty to the subsequent stage.
We are very enthusiastic about becoming a member of Eagle Eye because it will allow us to cowl the retail market from Asia Pacific throughout Europe, the UK to North America.”
Eagle Eye Solutions additionally announce the launch of a fully underwritten placing of new ordinary shares within the corporate to raise roughly £7.0 million at a price of 555 pence per share.