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 Freckle IoT, a business specializing in location data and foot traffic measurement from Freckle, LTD. This strategic acquisition will further accelerate PlaceIQ’s growth as the leader in location intelligence. Financial terms for the acquisition were not disclosed.
The addition of Freckle IoT will broaden PlaceIQ’s ability to support multi-channel brands and agencies by bringing further scale to audiences and measurement in key media channels adding strong search and social capabilities in particular–and will expand PlaceIQ’s service footprint to new customer verticals and territories in Canada.
“PlaceIQ has been the pioneer in helping this industry evolve from its inception to the present time when enterprises finally understand the transformative value of harnessing location data to create superior customer insights,” said Duncan McCall, CEO and co-founder of PlaceIQ. “Our team has grown PlaceIQ into an enterprise that could integrate an equally innovative young company into our own–with the goal of meeting the significant demand for location-based insights. This is an exciting and proud milestone,” he added further.
The sale of Freckle IoT to PlaceIQ will allow Freckle’s executive management team to devote its exclusive focus to the expansion of its sister company, Killi, a consumer-focused platform that allows a consumer to amalgamate and monetize their data.
“The location data space holds an incredible spectrum of opportunity right now,” said Neil Sweeney, CEO of Killi. “Having Freckle IoT transition to a market leader such as PlaceIQ is evidence of the growth and maturation of the ecosystem. We could think of no better outcome than transitioning the business to PlaceIQ to unlock its full potential.”