PlaceIQ is a longstanding player in location intelligence, competing with firms like Foursquare and Groundtruth
Precisely announced that it’s entered into a definitive agreement to acquire location intelligence firm PlaceIQ. Precisely is owned by Clearlake Capital Group and TA associates, both private equity firms that continue to make moves in local commerce. The deal terms weren’t disclosed.
Precisely’s data integrity software can benefit from PlaceIQ’s location data in having a deeper understanding of signals that impact customer operations. PlaceIQ has a unique view into consumer movement relative to business locations. This can be valuable to everyone from retailers to franchised QSRs that want to understand their customers’ behavioural patterns. Such data attributes can inform a range of strategic decisions.
“This is a tremendous opportunity for PlaceIQ to further connect location intelligence to the marketing ecosystem through our ubiquitous industry partnerships and proven integrations. Precisely’s demographic and mapping data, coupled with its passion for tackling the most difficult data integrity problems, is a great fit for PlaceIQ and our clients. We believe our industry-leading offerings will be taken to the next level with Precisely’s investment and enterprise guidance,” said Duncan McCall, CEO and Co-founder, Place IQ.
Precisely’s software adds value to PlaceIQ’s data, more data points and sources from Precisely could certainly add dimension to PlaceIQ’s outputs.