MRI Software Acquires Springboard

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07 October 2022

MRI Software, a global leader in real estate software solutions, has announced the acquisition of UK-based Springboard, a leading provider of footfall counting and artificial intelligence (AI)-powered analytics to retailers, landlords, and government bodies.

MRI has been a trailblazer in the PropTech industry for over five decades, serving more than two million users worldwide. Through innovative solutions and a rich partner ecosystem, MRI gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses. In acquiring Springboard, MRI will expand its MRI@Work™ for Retail solutions suite, which currently serves more than 500 retailers and retail property owners and operators globally.

Leveraging plug-and-play software, existing camera networks, and proprietary AI-powered algorithms, the Springboard™ solution provides real-time data and actionable insights, enabling retail stakeholders to optimise operations and improve outcomes for both individual retail locations and retail destinations. The solution continuously measures visitor activity, capturing anonymised demographic and sentiment information while identifying behaviour patterns - such as movement and dwell time - and presents this information via a comprehensive, easy-to-use reporting platform.

“Our clients will benefit tremendously from Springboard joining an organisation of MRI’s global scale and broad solution portfolio, and we look forward to bringing our solutions to their dynamic client community.”

 

– Steve Booth
Chief Executive Officer of Springboard

 

Better Data, More Insights, Improved Service

“Springboard is an exciting addition to the MRI family that will bolster our retail and smart data offerings and provide clients with deeper insights to guide their business decisions,” says Patrick Ghilani, Chief Executive Officer of MRI Software. “In light of post-pandemic shifts in the retail landscape, the adoption of in-store technology has become increasingly critical, and physical locations are playing a more prominent role in a redefined shopper and guest experience. Springboard’s intelligent, actionable data enables retail stakeholders to increase shopper traffic and engagement, improve capture and conversation rates, and, ultimately, level the analytical playing field between e-commerce and brick-and-mortar.”

Founded in 2002, Springboard holds the industry’s largest and most comprehensive data set on footfall. Serving more than 450 clients across 3,000-plus sites, the company is trusted by global media outlets, brands, and governing bodies for the accuracy of its data, quality of reporting, and retail insights.

“Our clients will benefit tremendously from Springboard joining an organisation of MRI’s global scale and broad solution portfolio, and we look forward to bringing our solutions to their dynamic client community,” says Steve Booth, Chief Executive Officer of Springboard. “Footfall is a huge predictor of business performance, and precise data ultimately helps businesses make faster, more informed decisions that optimise store operations and generate more revenue. We look forward to continued innovation in collaboration with the MRI team.” Springboard will continue to serve its clients without interruption.

Expansion to Provide Dynamic Solutions

MRI Software has always been a fast-growing company, diversifying its service strategically and comprehensively to stay current. Last year in August, MRI acquired FSI, now officially operating under the brand as of June this year. 

"Integrating FSI with MRI Software strengthens both organisations’ ability to support FM teams across a range of industry sectors by delivering an enhanced, scalable technology platform to manage and maintain facilities effectively,” says James Massey, Managing Director of Facilities Management for MRI Software.

MRI Software also acquired Melbourne-based Box+Dice. That purchase was a move to help enable real estate businesses to unify customer lifecycle visibility across both sales and rental property management.  

Picture: a handshake graphic overlayed with a data visualisation. Image credit: Pixabay.

Article written by Bailey Sparkes | Published 07 October 2022

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