US-based customer intelligence solutions company Market Force Information has acquired UK customer experience improvement agency Retail Eyes. The acquisition will enable the company to focus on sustaining growth in the UK and developing the business in European markets. Market Force is a VC-backed firm. Its investors are Monitor Clipper Partners, Centennial Ventures, Boulder Ventures and Vista Ventures, as well as bank lenders.
Retail Eyes, the UK’s leading customer experience improvement agency, has been acquired by Market Force Information (Market Force), the world’s leading customer intelligence solutions company.
The acquisition is an exciting development for Retail Eyes, and will enable the company to focus on both sustaining growth in the UK and develop the business in European markets. The Retail Eyes’ Milton Keynes offices will become the Market Force European headquarters.
Market Force is an ideal fit for Retail Eyes. Both companies offer a similar range of customer intelligence solutions – from mystery shopping to customer satisfaction and in-store auditing.
As the leader in customer intelligence solutions in North America, Market Force has spent the last few years developing propriety technology and patent-pending analytics models that combine, analyse and present multiple customer-related data streams in a platform that makes it easy for executives to understand what has the biggest impact on customer satisfaction and bottom-line performance.
The market for those solutions is growing rapidly around the world as retailers, restaurants, and other consumer chains work to bring customers in, making every experience, in every store, consistently great. As easy as that sounds, it’s very difficult to do with multiple locations, different cultures, and few meaningful metrics to measure the customer experience and what matters most to make them loyal.
Tim Ogle, CEO of Retail Eyes says: “I am delighted that our business will become a part of Market Force. It will be the springboard for even more growth for us. We have achieved fantastic results since we launched in 2003. In the last year alone – and despite challenging economic conditions – we achieved 46 per cent growth with a turnover of GBP9.6 million. Market Force’s experience and support will give us the financial and experiential resources needed to grow the business further, both here in the UK, as well as throughout Europe.”
The acquisition of Retail Eyes adds more than 100 world-class clients to Market Force’s portfolio and will double the number of mystery shoppers in the company’s network to over 600,000. The expected revenue of the expanded company is set to exceed more than GBP45 million in 2011.