In the deal announced today, Manchester-headquartered Purple confirmed the takeover of Ohio-based LogicJunction, with the combined businesses operating under the Purple brand. The acquisition is a majority stock deal, with the existing management team and employee base joining the Purple team.
Purple offers a WiFi platform through which businesses can monitor a customers’ shopping patterns and habits, allowing them to communicate with targeted messaging, as well as providing powerful analytics tools.
Complementing its existing business, LogicJunction enhances the Purple portfolio with ‘wayfinding’ technology, providing indoor navigation and location-based systems, allowing them bolster their “intelligent spaces” proposition to their clients.
With global positioning system (GPS) technology ineffective indoors, wayfinding is a system that guides people through a physical environment and is particularly important in complex built environments. It has been identified as the future technology for navigating large urban centres such as shopping centres, supermarkets and hospitals.
Over the last 10 years, LogicJunction has built its business by enabling citizens to navigate the indoors like the outdoors, offering a mobile experience designed to mimic the experience of satellite navigation (sat nav). Its underlying technology utilises WiFi, Bluetooth as well as the geomagnetic force of the Earth, providing low-hardware and high accuracy.
Following today’s acquisition, Purple will now offer one of the most comprehensive and scalable indoor navigation systems, including ahead-of-the-curve location-based indoor positioning, overlaying the service with its existing data analytics portfolio, enhancing both client and end-user experience.
85 Advisors acted as exclusive financial advisor in connection with the transaction.
Gavin Wheeldon, Chief Executive Officer of Purple, said:
“LogicJunction have both an amazing team and beyond doubt the best technology in the wayfinding sector. The team and the technology will complement Purple’s offering and take us further on the journey in creating intelligent spaces, as well as growing both our UK, European and US presence.
“As architectural environments become more complicated and as consumer needs shift to more personalisation, indoor positioning and location-based are becoming core to organisations across every industry.
“Our existing customers across multiple sectors, including airports, malls, department stores, stadiums, healthcare and other large venues, will all benefit from the addition of a best-in-class Wayfinding solution. And as a majority stock deal existing CEO Mark Jowell, the other shareholders and staff are excited about the continued journey as part of the enlarged business.”
Mark Jowell, Chief Executive Officer of LogicJunction, said:
“We’ve been delivering solutions for nearly 20 years, developing and delivering effective wayfinding systems, contributing to a heightened experience for well-being, safety, and security.
“LogicJunction’s merger with Purple brings together two great teams and technologies at the forefront of creating and optimising intelligent spaces, providing powerful insights for clients.
“Through this merger, we are thrilled to be able to offer the combined power of indoor navigation and advanced data analytics to our customers, and to every organisation looking to provide the very best indoor experience for their visitors.”