PlaceIQ Inc., the leading data and technology provider that powers critical business and marketing decisions with location data, analytics, and insights, today announced it has acquired the Geospatial Insights business line from Skyhook Wireless Inc., the worldwide independent leader in location technology. This strategic acquisition will further accelerate PlaceIQ's growth as the leader in location intelligence. Financial terms for the acquisition were not disclosed.
PlaceIQ will service Skyhook's existing Geospatial Insights customers with access to PlaceIQ location data, fulfilling use cases from commercial foot traffic metrics to competitive conquesting and consumer segmentation. PlaceIQ will also be acquiring rights to Skyhook's data enrichment SDK which allows customers to segment their first-party data with visitation-based consumer behaviors.
"This past year has really shone a light on the importance of access to real-time, contextual data for decision making," said Duncan McCall, CEO, and co-founder of PlaceIQ. "This acquisition will allow us to deepen our focus on delivering superior data solutions, and expand our reach in the maturing data market."
Skyhook plans to accelerate investment in its Precision Location solution, which uses a hybrid of various localization techniques (such as Wi-Fi and cell ID positioning) to accurately calculate device locations. Continued innovation allows Skyhook to deliver world-class location services to customers around the globe.
"The explosion in the number of connected devices—ranging from smartwatches, to scooters, to industrial asset trackers—coupled with the increasing prevalence of feature phones running on alternative or open-source operating systems has highlighted the increasing need for an accurate and precise positioning system like Precision Location," said Craig Waggy, CEO of Skyhook. "This transaction allows us to increase our focus on the cornerstone of our business, Precision Location, and the growing opportunities now before us."