Strategic acquisition enables customers around the world to minimize shrink and maximize profitability
MOUNT LAUREL, NJ / ACCESSWIRE / May 30, 2024 / Agilence, Inc., today announced the acquisition of IntelliQ Limited, a UK-based provider of loss prevention software to restaurants, retailers, and entertainment companies. Both IntelliQ and Agilence bring over 20 years of expertise in loss prevention with customers across the Americas, EMEA, and APAC. The acquisition expands Agilence's global footprint and further strengthens the company's position as the leader in loss prevention, case management, and store audit software.
Agilence and IntelliQ share a unified vision to help loss prevention and operations professionals reduce shrink, increase profits, and ensure the safety and satisfaction of employees and customers. The acquisition will unite the expertise and resources of two industry leaders to offer the widest range of loss prevention capabilities available in the market today.
"Shrink continues to be a major factor contributing to reduced profits everywhere customers and companies meet - in stores, at restaurants, in amusement parks, and online," said Russ Hawkins, CEO of Agilence. "According to the National Retail Federation (NRF), nearly two-thirds of shrink can be controlled by companies. With the addition of IntelliQ, our combined best-in-class analytics with award-winning customer success teams will allow our customers to understand their operations and take corrective action to improve profits."
This acquisition represents the next stage of growth for Agilence and further solidifies the company's leadership position in loss prevention by adding over 50 customers and expanding Agilence's presence into EMEA and APAC. "While new geographies represent growth opportunities, our new products, analytic modules, and artificial intelligence capabilities allow us to expand within our customer base to further increase their profits. In particular, case management and store audit products allow companies to ensure compliance with governmental and corporate policies, deliver exceptional customer experiences, and work with law enforcement to combat organized retail crime (ORC)," said Hawkins.
"We are thrilled to join Agilence in the mission to help customers address shrink," said Alex Jazayeri, CEO of IntelliQ. "Our shared focus on customer success and product excellence positions us well to empower the world's most successful loss prevention initiatives and teams. Combined, we set the industry standard and IntelliQ is excited to join Agilence in this next chapter."
Contact Information
Brian Brinkmann
Chief Product and Marketing Officer
bbrinkmann@agilenceinc.com
SOURCE: Agilence
View the original press release on newswire.com.
