Louisville, CO (PRWEB) May 07, 2015
Envysion®, a leading provider of cloud-based video driven business intelligence software to help companies deliver on their brand promise with instant, actionable video intelligence, is today announcing the acquisition of LightHaus Logic. With the acquisition, Envysion gains access to LightHaus’ patented visual intelligence technology that extracts rich customer insights and business intelligence from in-store video cameras to help businesses increase sales conversion, optimize staffing, marketing, and merchandising.
The acquisition expands Envysion’s video analytics capabilities for its video driven business intelligence software. The combination leverages the companies’ similar roots in telecommunications and complimentary architectures to enable the scalable deployment of video analytics without material upfront costs or taxing customer networks. Retailers, restaurants, cinemas, convenience stores, and other Envysion and LightHaus customers will benefit from access to a complete end-to-end video analytics technology and even more options to analyze video to better understand their businesses.
“As the proven, market-leading provider of video-based business intelligence, we are continually delivering innovative new applications to help retailers improve customer experience, coach employees, and drive sales and profit. Video analytics enables us to provide a rich set of metrics, from the number of people that enter a store and buy, to how long a person spent in line and where they went within the store,” says Matt Steinfort, president and CEO of Envysion. “Our customers view these important metrics as a critical element to understanding and driving their stores’ success. LightHaus’ complementary, proven, patented technology has been deployed at scale today, is a natural extension of our technology, and was a logical acquisition target for the company. This acquisition extends our capabilities, strengthens our position in the retail market, and bolsters our position as the technology leader in the industry.”
With the deal, Envysion acquires a core team of LightHaus employees that will join the Envysion team, and who will continue to work with existing LightHaus and Envysion customers. Envysion will maintain the LightHaus office in Vancouver, BC, operating as Envysion Canada, a wholly owned subsidiary of Envysion, Inc. Full integration of the companies is expected to be completed by the end of 2015.
“We have long been excited about the potential for the video analytics industry, and view this acquisition as a tremendous way to accelerate the traction of two compelling companies and technologies,” says LightHaus CEO Ross Mitchell. “In Envysion, we have found a partner with a similar vision, architecture, and culture that complements our dedicated team and patented video analytic capabilities. Our combined technologies offer a compelling platform for customers to understand everything that is happening in their stores and businesses.”
Using in store video cameras, the LightHaus technology measures customer’s behavior and sales associate interaction, enabling bricks and mortar retailers to improve conversion, increase sales, optimize staffing and measure merchandizing and marketing effectiveness.
Envysion combines video with data from point of sale transactions to help restaurants, wireless providers, retailers, and others gain insights into their businesses through its video driven business intelligence software. Top brands like Chipotle, Noodles & Company, Einstein Bros. Bagels, Verizon Wireless, and others use its technology to gain greater insights into how their stores are performing, increase customer service and revenues, and prevent loss. Envysion customers have driven 1-2% increases in sales and profits by leveraging these insights to improve their operations.
Envysion is a leading provider of cloud-based video driven business intelligence that helps companies deliver on their brand promise. Successful brands know their formula for success—the experience they want their customers to have, the processes they want their employees to follow, and the economics they expect to achieve. At Envysion, we marry operational, financial and employee metrics together with video and sophisticated analytics and make it easy-to-use and accessible, offering visibility into every store…every location…every day…from anywhere. Founded in 2006 with the simple idea that businesses could operate more effectively if they have better visibility into what is happening in their locations, Envysion has since been recognized with a Stevie® Award, a Red Herring Global: Top 100 Winner, TiE50 Award, 10 IT Security Companies to Watch from Network World, a VON Magazine Innovator Award, and the Deloitte Technology Fast 500™. http://www.envysion.com