Real estate software solutions MRI Software has acquired UK-based Springboard, the leading provider of footfall counting and artificial intelligence (AI)-powered analytics for retailers, landlords, and government bodies.
Founded in 2002, Springboard holds the industry’s largest and most comprehensive data set on footfall and serves more than 450 clients across 3,000-plus sites. The Springboard solution leverages plug-and-play software, existing camera networks, and a proprietary AI-powered algorithm to provide 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.
In a statement, MRI said that the Springboard will continue to serve its clients “without interruption,” and will help it expand its MRI@Work for Retail solutions suite, which currently serves more than 500 retailers and retail property owners and operators globally.
Patrick Ghilani, chief executive officer of MRI Software, said in a statement: “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.
“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.”
Steve Booth, chief executive officer of Springboard, added: “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.
“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.”