Loop Insights completes acquisition of intellectual property assets of Digital2Go Medial Networks, also known as Locally

Loop Insights Inc (CVE:MTRX) (OTCQB:RACMF) has announced Thursday the completion of its acquisition of the intellectual property assets of Digital2Go Medial Networks Inc, also known as Locally. 

Loop said Locally is a technology company focused on providing location data intelligence and real-time consumer engagement. 

The company noted that the location-based services market was valued at $28.95 billion in 2019, according to Allied Market Research. 

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As a leader in human movement intelligence data, Locally has positioned itself to enable businesses to connect their physical and digital databases through mobile location insights and marketing integration capabilities, Loop said.

Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11, and others access deep consumer behavioral insights across all of their marketing activation channels.

Loop said the acquisition of Locally will allow it to incorporate Locally’s location-based data and engagement capabilities, providing Loop with new revenue opportunities with brands and retailers looking to capitalize on the increasing use of location-based services.

”The stakes have been raised in terms of brand and consumer expectations and interactions, with consumers demanding that brands cater to their individual preferences,” said Loop CEO Rob Anson in a statement.

“The unique combination of Loop’s retail transaction data capabilities and the Locally location-based engagement platform has significantly improved Loop’s capabilities across retail, hospitality, and live sports and entertainment verticals, further enabling us to amplify frictionless experiences inside and outside nearly any physical location. With over 50 billion location signals collected to date, Locally was an obvious fit to acquire and incorporate into Loop’s product offerings, and will make an immediate impact on our already robust pipeline.”

Loop said its enhanced location-based capabilities will be applicable to nearly all of its clients, creating meaningful, dynamic, and personal connections with consumers, while providing retailers with unparalleled retail insights. 

By connecting transaction information to the unique IDs of users, Loop said it is able to drive targeted marketing opportunities and real-time engagement directly to customers through its wallet pass and other engagement capabilities.

Terms of the acquisition

Loop said it issued 166,250 common shares at $1.20 each for an aggregate consideration of $199,500 to Locally. Any shares issued in connection with the acquisition will be subject to a restricted period of four months and one day from the date of issuance, as well as restrictions pursuant to US securities laws.

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Story by ProactiveInvestors