Point Inside Announces Acquisition of AreaMetrics
Combined Company To Be Trusted Source For High-Value Data Used In Mobile Marketing
Bellevue, WA – January 31, 2020
Point Inside, whose geospatial data products and services offer deep insights into how people interact with physical retail, has completed the acquisition of Seattle-based AreaMetrics, a leading location-based marketing company. The combined company will continue under the Point Inside name, and will serve the mobile marketing industry by offering highly accurate point of information (POI) data and insights products focused on dense retail environments.
"Over the past ten years Point Inside has developed relationships, processes and systems that allow us to quickly build, and more importantly, keep up-to-date, thousands of hyper-accurate indoor maps for malls, airports, and big box retailers," said Jon Croy, CEO of Point Inside. "This is the foundation we’re using to now offer trusted point-of-interest data and insights to customers needing to understand consumer behavior in these dense retail environments. With the addition of AreaMetrics we have a significant opportunity to leverage the combined capabilities and experience to successfully enter the $35 billion digital advertising market as a data and insights supplier. We’re excited to welcome AreaMetrics to the Point Inside family and for what the future holds for this combined new company."
AreaMetrics was founded in 2015 as a location-based marketing company whose mission was to help marketers and brands gain unique insights by providing large-scale access to the most accurate location data available. The company’s code has been integrated into more than 60 million mobile devices through partnerships with mobile apps. AreaMetrics processes hundreds of millions of daily requests, and collects data through a network of over 7.5 million distinct Bluetooth beacon signals as well as GPS signals from handsets.
"We’re very excited about combining forces with Point Inside. The fit of the two companies couldn’t be better, both from a technology perspective as well as culturally," said AreaMetrics Founder and CEO, Brandon Bennett. "The capabilities the two companies bring are highly complementary and naturally synergistic. What could be better than combining highly accurate maps of retail spaces with the best location data available in the mobile marketing industry? This merger just made good sense for both companies."
Point Inside will absorb all AreaMetrics employees and management, with AreaMetrics founders, Brandon and Carey Bennett, and Alan Solidum, taking Point Inside leadership roles of EVP Business Development, Vice President Customer Solutions, and Director of Data Engineering, respectively. The combined company will continue to operate from the existing Point Inside headquarters in downtown Bellevue, Washington, just outside of Seattle.
The transaction is backed by Vestech Partners. Clark Nuber served as financial and tax advisors. Bitwise Legal served as legal counsel to Point Inside.
About Point Inside
Founded in 2009, Point Inside is the global leader in building and managing hyper-accurate indoor maps for dense retail environments like malls, airports, and big box retail. Built for scale, over the last ten years Point Inside has successfully managed and maintained hundreds of millions of points of interest (POIs) within thousands of precisely mapped locations. Its trusted data and insights products are used by retailers and mobile marketing-focused companies to optimize advertising spending. For additional information visit the website at:https://www.pointinside.com.
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