VSBLTY Groupe Technologies Corp, an AI software provider of security and retail analytics technology, said on Wednesday it had agreed to acquire Shelf Nine, a leader in retail media networks.
The two companies expect to close their definitive agreement within the upcoming 30 days as soon as their due diligence is completed.
The agreement represents mostly a stock deal, the majority of which includes incentive stock based on Shelf Nine achieving particular revenue targets, the companies said.
“This acquisition is synergistic with VSBLTY’s vision of the retail advertising segment,” Jay Hutton, VSBLTY Co-founder and Chief Executive Officer, said in a press release.
“Shelf Nine’s integration with our computer vision analytics technology is a win-win for both companies. Operating as a wholly owned subsidiary of VSBLTY, Shelf Nine and VSBLTY have the opportunity to further leverage each company’s core competencies and further penetrate the retail media market estimated to be worth $160 billion by 2027. In addition to both companies benefiting from recurring SaaS fees, they also generate added revenue from content development and media sales,” the CEO said.
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