MapsPeople has reached an agreement to acquire all of US based Point Inside’s customer contracts and indoor mapping assets.
With the acquisition of the Point Inside business, MapsPeople gains a roster of high-profile global brands.
The indoor mapping assets from Point Inside include indoor maps of more than 1,800 shopping malls in the US and more than 200 airports globally, which will help accelerate the growth opportunities for MapsPeople’s partners that provide solutions to these strategic verticals.
Furthermore, MapsPeople adds new products to the MapsIndoors current portfolio by providing accurate Point of Interests (POI) data for location-based services and last-mile delivery services.
Additionally, the transaction strengthens MapsPeople’s presence in the retail sector that increasingly depends on new technology to attract and engage consumers by enhancing their shopping experience.
Through the acquisition, MapsPeople also gained a UK customer base with more than 170 large retail stores for MapsIndoors. All customer services will continue without change to their current agreement or services level.
Morten Brøgger, MapsPeople CEO, says: “I am thrilled to announce our acquisition of Point Inside, an early industry pioneer, and welcome its customers and employees to MapsPeople.
“I am confident that this new acquisition will be a perfect match, and the new products we receive from Point Inside will provide substantial global growth opportunities for our MapsIndoors product family in 2023 and beyond.
“With this acquisition, we will fortify our customer base, expand the team, and strengthen our business and product portfolio in a great synergetic way. This will be added to the current growth MapsPeople is seeing in the Smart Building verticals.”
Geary Eppley, Point Inside CEO, says: “We are excited to be part of MapsPeople and to be part of their vision to map the built world. Our organizations share a common culture of accuracy, user focus, and innovation in indoor mapping, making this a natural fit.
“With our combined multi-decade experience in indoor mapping and extensive catalog of maps, we will further establish MapsPeople as the industry’s premiere indoor mapping solution.
“I am impressed with CEO Morten Brøgger’s leadership and the vision for the company and am confident that our customers and employees are in good hands.”
Closing of the acquisition is expected to be completed in April 2023. ASG Advisors acted as business advisor to Point Inside, serving as a trusted partner to their growth and success.
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