Bentonville-based software firm Nuqleous has acquired Canada-based SpringBoard Data Management, according to a Thursday (Oct. 17) news release. Financial terms of the deal were not disclosed.
SpringBoard provides retail analytics software, while Nuqleous provides business software for big data, retail analytics and space planning optimization.
According to the release, the acquisition will allow Nuqleous to serve Canadian retailers and consumer packaged goods (CPG) brands. It’s also expected to accelerate product innovation and provide greater support for SpringBoard’s customers. The deal is part of Nuqleous’ “journey to transform retail data into actionable insights that enable intelligent decision-making on a global scale across every category.”
Expert Market Research shows the U.S. market for big data analytics is expected to grow at a 21.8% compounded annual growth rate to $53 billion by 2032. Brands and retailers are using big data more frequently to improve operations, customer experiences and supply chains.
“This acquisition aligns perfectly with our broader strategy of expanding Nuqleous’ reach, not only across North America but also globally,” said Garrett Levey, co-CEO of Nuqleous. “By increasing the breadth and depth of the retailer ecosystems we can support, we’re ensuring that Nuqleous remains at the forefront of delivering comprehensive solutions that meet the evolving needs of our customers. SpringBoard’s powerful platform and local expertise significantly enhance our ability to support our clients in Canada and beyond.”
SpringBoard has provided Canadian brands and suppliers with reporting and analytics capabilities for retailer-specific and cross-retailer markets. The release shows that Nuqleous considers Canada a “highly strategic market for expansion and continued innovation.”
“This strategic move strengthens Nuqleous’ presence in the rapidly growing Canadian market and creates a powerful cross-border solution for brands operating across North America,” said Sam Jenks, director of corporate development at Nuqleous. “We’re excited to bring SpringBoard’s deep Canadian market expertise and powerful platform into the Nuqleous family. Together, we’ll deliver unmatched value, facilitating collaboration and data-driven decision-making.”
SpringBoard’s library of retail data connectors includes Loblaws, Metro, Sobeys, Shoppers Drug Mart, and Amazon Canada. They will be added to Nuqleous’ product portfolio, which includes ShilohNext, a Walmart Luminate API-certified partner.
Following are some of SpringBoard’s key features:
Data-driven storytelling.
Time savings and efficiency.
Real-time reporting.
Data integration and dashboarding.
Single source of truth.
“SpringBoard’s success has always been rooted in our passion for data and our commitment to helping clients turn that data into actionable insights,” said Sam Bruce, CEO and founder of SpringBoard Data Management. “Joining Nuqleous allows us to scale these benefits even further, bringing our expertise to a broader audience while continuing to innovate and meet our clients’ evolving needs.”
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Publish date : 2024-10-17 07:51:00
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