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Loop Insights Closes Acquisition of IP Assets of Location Data Intelligence Firm Locally
Tuesday 23 February 2021

Canada-based Internet of Things technology company Loop Insights Inc. (MTRX: TSXV) (RACMF: OTCQB) has closed its acquisition of the intellectual property assets of Digital2Go Medial Networks, Inc. d/b/a Locally, the company said.

The deal was announced on February 16, 2021.

Locally is a technology company focused on providing location data intelligence and real-time consumer engagement.

Locally acquisition Provides Loop Insights with location-based retail insights.

Rampant digitization and the increasing use of smartphones have helped grow the location-based services market to USD28.95bn in 2019, according to Allied Market Research.

As a leader in human movement intelligence data, Locally has positioned itself to enable businesses to connect their physical and digital databases through mobile location insights and marketing integration capabilities.

Locally has helped well-known brands and companies such as Ford, BMW, Wyndham Resorts, Calvin Klein, Kroger, Chipotle, Napa Auto Parts, 7-11, and others access deep consumer behavioral insights across all of their marketing activation channels.

The acquisition of Locally will allow Loop Insights to incorporate Locally's location-based data and engagement capabilities, providing Loop with new revenue opportunities with brands and retailers looking to capitalize on the increasing use of location-based services.

Loop's enhanced location-based capabilities will be applicable to nearly all of its clients, creating meaningful, dynamic, and personal connections with consumers, while providing retailers with unparalleled retail insights.

By connecting transaction information to the unique IDs of users, Loop is able to drive targeted marketing opportunities and real-time engagement directly to customers through its wallet pass and other engagement capabilities.

In consideration for the acquisition, Loop issued 166,250 common shares in the capital of the company at a price per share of CDN 1.20 for aggregate consideration of CDN 199,500 to Locally.

As outlined in an October 7th, 2020 press release, Loop Insights has already begun to integrate Locally's location-based data insights into Loop's insights and engagement platforms.

By combining Loop and Locally's technology stacks, Loop has been able to offer enhanced location and mobile data insights, additional targeted marketing capabilities, and new revenue streams via data monetization with retailers, brands, sponsors, and marketers.

On December 1st, 2020, Loop announced it had achieved 100% success in delivering the first-ever fully integrated "Venue Bubble" in live environments at both NCAA College Basketball Tournaments.

In total, Loop provided 14 check-in locations that traced over 550 athletes, coaches, and staff members at the two tournaments. Live demonstrations of the Venue Bubbles lead to significant discussions about some of North America's largest sporting events in 2021, with additional events to be announced.

Locally is a provider of a location and contextual engagement platform intended to bridge the gap between the locations and consumers that visit them.

Loop Insights Inc. is a Vancouver-based Internet of Things technology company that delivers AI automated marketing, contact tracing, and contactless solutions to the brick and mortar space.

Its unique IoT device, Fobi, enables data connectivity across online and on-premise platforms to provide real-time, detailed insights and automated, personalized engagement.

Loop Insights operates in the telecom, casino gaming, sports and entertainment, hospitality, and retail industries, in Canada, the US, the UK, Latin America, Australia, Japan, and Indonesia.
Date Published: 23/02/2021