ASX-listed intelligence software vendor Skyfii has acquired Australian venue analytics startup Blix.
Headquartered in Melbourne, Blix specialises in venue analytics software, targeting small and medium format retail venues including auto dealerships. Some of its customers include Porsche, Volkswagen, Hyundai, Toyota, Country Road Group, Chanel, Swarovski and Watches of Switzerland.
The acquisition is valued at an upfront $300,000 in cash, with an earnout based on revenues.
Skyfii chief executive Wayne Arthur said the acquisition further strengthened the company’s position as a market-leading provider of data-driven venue analytics.
“The acquisition reinforces our strategic focus on delivering a diversified mix of products and services into physical venues globally and supports our stated strategy to grow both organically and via accretive and complementary acquisitions,” Arthur said.
“The Blix product and technology solution represents a cost-effective solution for small to medium-sized venues, whilst delivering valuable insights to inform staff rostering, sales conversion, repeat visitation and customer dwell times.”
Skyfii said it planned to sell Blix’s offerings to its global customers, including the UK, Europe, Asia and North America.
The company also anticipates Blix will be EBITDA accretive in the first full year, and will also deliver close to a $1.1 million increase in Skyfii’s annualised recurring revenue.