SYDNEY: Skyfii Limited, an omni data intelligence company, has acquired the business and assets of Blix, an Australian headquartered customer insights technology platform, largely servicing the retail and automotive sector, a news release said.
Established in 2013, Blix sells and manages an analytics technology platform that combines sophisticated WiFi and people counting technology. Blix’s technology solution, named CountSmart, counts foot traffic, measures sales conversion, manages staffing rostering and improves the overall business efficiency of small to medium sized venues.
The Blix customer base is largely spread across Australia and New Zealand with a growing number of customers across North America and parts of Asia. The customer book comprises approximately 50 blue chip customers including brands such as Porsche, Volkswagen, Hyundai, Toyota, Country Road Group, Chanel, Swarovski and Watches of Switzerland.
The purchase price for the acquisition comprises of an initial cash consideration of $300k; plus an earnout payment based on a percentage of annualised Q1 FY22 revenue contribution from current and an agreed pipeline of Blix customers, payable in Q2 FY22.
Skyfii can elect to pay up to 50% of the Earnout in SKF Shares, to be issued at the 15 trading day volume weighted average price of SKF Shares prior to payment of the Earnout in Q2 FY22. Skyfii anticipates the total purchase price to be less than 1x Annualised Recurring Revenues contributed by Blix customers in the first year of ownership.