FMJ Facilities Management magazine providing industry-specific intelligence to FM and property professionals
Global real estate software solutions business, MRI Software, has acquired UK-based Springboard, a leading provider of footfall counting and artificial intelligence (AI)-powered analytics to retailers, landlords, and government bodies.
Founded in 2002, Springboard holds the industry’s largest and most comprehensive data set on footfall. Serving more than 450 clients across 3,000-plus sites, the company is trusted by global media outlets, brands, and governing bodies for the accuracy of its data, quality of reporting, and retail insights.
The acquisition will see MRI expanding its MRI@Work™ for Retail solutions suite, which currently serves more than 500 retailers and retail property owners and operators globally.
Leveraging plug-and-play software, existing camera networks, and proprietary AI-powered algorithms, the Springboard™ solution provides real-time data and actionable insights, enabling retail stakeholders to optimise operations and improve outcomes for both individual retail locations and retail destinations. The solution continuously measures visitor activity, capturing anonymised demographic and sentiment information while identifying behaviour patterns – such as movement and dwell time – and presents this information via a comprehensive, easy-to-use reporting platform.
Patrick Ghilani, Chief Executive Officer of MRI Software, said of the acquisition: “Springboard is an exciting addition to the MRI family that will bolster our retail and smart data offerings and provide clients with deeper insights to guide their business decisions. In light of post-pandemic shifts in the retail landscape, the adoption of in-store technology has become increasingly critical, and physical locations are playing a more prominent role in a redefined shopper and guest experience. Springboard’s intelligent, actionable data enables retail stakeholders to increase shopper traffic and engagement, improve capture and conversation rates, and, ultimately, level the analytical playing field between e-commerce and brick-and-mortar.”
Steve Booth, Chief Executive Officer of Springboard commented: “Our clients will benefit tremendously from Springboard joining an organisation of MRI’s global scale and broad solution portfolio, and we look forward to bringing our solutions to their dynamic client community. Footfall is a huge predictor of business performance, and precise data ultimately helps businesses make faster, more informed decisions that optimise store operations and generate more revenue. We look forward to continued innovation in collaboration with the MRI team.”
Advisers to Springboard and YFM were: Grant Thornton for corporate finance (Mike Hughes, John Whitney) and tax advisory (Hazel Platt) alongside EMW Law (legals; Ian Morris and Daisy Divoka) and CIL (commercial diligence, Mike Hallett).
FMJ, in partnership with PlanRadar, is pleased to bring together a panel of experts to discuss achieving ESG using the power of digitisation.
According to the Environmental Audit Committee (EAC) the UK’s built environment is responsible for 25 per cent of the UK’s greenhouse gas emissions, and a large proportion of the commercial stock in the UK requires further investment to become environmentally sustainable. With climate deadlines looming, urgent action is needed.
The pandemic taught us the importance of utilising digital technology to protect people. FMs are now aware of the use of accurate data to help manage assets as well as occupants, by streamlining maintenance programmes, monitoring building assets performance and measuring the amount of energy being used.
FMs have a key role in meeting ESG goals, which include:
* Environment: Meeting sustainability goals, including net zero targets, waste reduction and recycling
* Social: Maintaining health and safety, delivering social value, equality and diversity, duty of care and investment in skills
* Governance: Compliance with all regulatory requirements and legislation, and reducing errors by the use of robust data processes.
The webinar will take place on the 11th October at 11am.
Register for the webinar here.
If you are unable to attend please register and we will send through a recording of the event post webinar.
