Tyco Acquires ShopperTrak For About $175 Million In Cash; Investors Cheer Move
Tyco International plc (NYSE: TYC) announced on Tuesday it has agreed to acquire ShopperTrak, a global provider of retail consumer behavior insights and location-based analytics, for approximately $175 million in cash.
Tyco also acquired FootFall, a global provider of retail traffic analytics back in July. FootFall and ShopperTrak will now give Tyco the capability to capture data from 35 billion shopper visits annually and provide the retail industry with "unprecedented" global store traffic insights.
Tyco noted that the transaction is expected to close in its second fiscal quarter 2016 and will have no impact to its fiscal 2016 earnings guidance. The company did however note that the transaction will be $0.02 accretive to its earnings per share in the first 12 months.
Shares of Tyco were trading higher by 1.19 percent at $31.55 shortly after Tuesday's opening bell.
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