Shelfbucks Inc., the number one in-store retail merchandising optimization platform, today announced it has acquired 24 granted patents that cover technologies used to measure execution, compliance and performance of in-store merchandising displays. The patents also cover technology for monitoring in-store advertising conditions and engaging in-store shoppers with advertising content.
The acquisition provides Shelfbucks with the single largest portfolio of patent protected technology in this industry segment.
The patents were originally granted to the former Goliath Solutions, an early pioneer in radio-based technology platforms and the first company to prove to the retail and CPG industry that automated measurement of in-store merchandising and marketing display execution, compliance and performance ultimately drives significantly increased product sales and gross margins.
Shelfbucks also announced last month that the co-founder of Goliath Solutions and architect of the acquired patents, Gary Overhultz, has joined the company as chief implementation officer.
Goliath, which operated from 2002 to 2013, incorporated radio technology directly into point-of-purchase (POP) merchandising displays and in-store marketing materials. The company had successfully signed more than 100 CPG brand customers and was installed in multiple retailers, including leading drug chain Walgreens. Under the direction of Mr. Overhultz, Goliath Solutions was the first company to prove to the retail and CPG industries that automated measurement of in-store marketing display execution, compliance and performance ultimately drives significantly increased product sales and gross margins.
"These patents form a foundation of CPG industry game changers, individually and collectively enabling new levels of actionable insights about merchandising optimization, consumer messaging, and inventory management," Mr. Overhultz said. "Through technology and processes detailed in this group of patents, the timeliness, breadth, and accuracy of available retail data are substantially improved. Shelfbucks has taken this technology to a new level of functionality, accuracy and cost-effectiveness. I'm delighted to be part of the CPG revolution as both an author and an implementer."
Shelfbucks acquired the patents from Chicago-based CapX Partners, a capital provider to middle market companies as well as private equity sponsored and venture capital backed firms. CapX Partners was a significant investor in Goliath Solutions from its early days of success, and was instrumental in the company's development of its industry-changing platform.
"As Goliath Solutions was laying the foundation for this entirely new industry capability, we became extremely passionate about what it would achieve in the future, said Jeffry Pfeffer, managing partner of CapX Partners. "With its enhanced technology, platform, established partners and solid leadership, we know that Shelfbucks shares our vision and will take the full capabilities of this IP portfolio to a much higher level. We look forward to supporting Shelfbucks along its very exciting path for growth."
Erik McMillan, CEO of Shelfbucks said: "The addition of these 24 granted patents to our existing intellectual properties gives Shelfbucks the industry's largest portfolio of patent protected technologies and enables us to secure the long-term success of our customers' in-store marketing efforts. Having greatly advanced the technology in recent years, Shelfbucks can now uniquely enable CPGs and retailers to measure and optimize the value of their in-store marketing programs."
CPG and retail customers incorporate the Shelfbucks platform into POP merchandising programs, enabling continuous, daily reporting on when and where displays are installed within retail stores. Shelfbucks provides detailed insights on performance against marketing and sales goals, enabling brands to optimize their campaigns to maximize sales. Shoppers browsing a product area can also easily interact with Shelfbucks-enabled merchandising materials using their smartphones to immediately access product content, promotional offers, ratings and reviews, and other relevant product or category information.
"CPG brands and retailers understand the growing importance of optimizing in-store shopper marketing through data-driven merchandising decisions and personalized mobile interactions with shoppers at the point of purchase," Mr. McMillan added. "We are working with the industry's most prominent POP display companies, brands and retailers to create a vast digital ecosystem that measures campaign performance with incredible scale and accuracy, while directly engaging with shoppers to enhance their satisfaction and create larger purchase patterns. Our acquisition of these granted patents now further protects official Shelfbucks partners and customers while we help the industry realize new growth opportunities for the long term."
About CapX Partners
Founded in 1999, CapX Partners (CapX) is a specialty finance company that focuses on private equity and venture backed portfolio companies looking for debt financing in the $2-$20 million range. CapX provides senior and mezzanine debt including lease lines and favors manufacturing, distribution, technology, energy and healthcare industries with an emphasis on revenue producing fixed assets. For more information on CapX, visit www.capxpartners.com.
Shelfbucks is the #1 in-store merchandising optimization and mobile media platform, enabling retail and CPG brand customers to realize additional revenue and brand equity from in-store marketing programs with insights that lead to better merchandising decisions, and new personalized shopper experiences that lead to increased sales per visit. Additional information on Shelfbucks is available at www.shelfbucks.com. Watch industry leaders speak on digital coming to the in-store experience at www.shelfbucks.com/faqs. SmartShelf™ and SmartDisplay™ are trademarks of Shelfbucks Inc.