On behalf of the Nearbuy team, I am pleased to announce that RetailNext, the leading in-store analytics provider, has acquired Nearbuy Systems. RetailNext is the leader in Applied Big Data for physical retail, delivering real-time analytics that enable retailers, shopping centers, and manufacturers to collect, analyze, and visualize in-store data. The patented solution uses best-in-class video analytics, Wi-Fi detection, Bluetooth, on-shelf sensors, and data from point-of-sale systems as well as many other sources to automatically inform retailers about how people engage with their stores.
In 2010, Nearbuy was founded with the mission to help retailers and malls build a competitive advantage in the new world of omnichannel shopping. Since then, we have made incredible progress and became the largest provider of in-store opt-in analytics, enabling retailers to enhance one-to-one engagement and personalization strategies. By joining forces with RetailNext, we can build the most robust solutions specifically for retailers, shopping centers, and manufacturers that provide the ability to identify opportunities for growth, execute changes, and measure success like never before. We are thrilled to join the RetailNext family and contribute to the growth and development of game-changing technology that we believe will offer our customers the most advanced and comprehensive set of in-store analytics solutions available today.
We would like to thank all of you, our customers, partners, and evangelists who have supported Nearbuy over the last 4 years. This is an amazing new chapter for Nearbuy and we look forward to further transforming the retail industry with truly innovative and robust solutions. Thank you for all of your support. We look forward to a new journey together for years to come.