Point Inside Announces Acquisition of AreaMetrics
Combined Company Creates Significant New Player In Mobile Marketing Arena
Bellevue, WA – January 31, 2020
Point Inside, whose geospatial 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 develop innovative information products to serve the mobile marketing industry.
"Over the past ten years Point Inside has developed processes and systems capable of quickly building, and more importantly, keeping up-to-date, thousands of geo-spatially accurate indoor maps for malls, airports, and big box retailers," said Jon Croy, CEO of Point Inside. "This capability is the foundation that allows us to generate valuable point-of-interest data and insights. The addition of AreaMetrics provides us with significant opportunities to leverage the combined capabilities and experience into lucrative markets. 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 the 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, 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 was the first company to build and manage geo-spatially accurate indoor maps at scale for malls, airports, and big box retail. Focused solely on places “where commerce is conducted”, its software, platform and SDKs are now used by retail and mobile marketing-focused companies for a variety of purposes, from determining the optimal location to place a retail store, to understanding foot traffic, to the display of maps. For additional information visit the website at:https://www.pointinside.com.
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