RetailNext buys WiFi analytics company Nearbuy Systems

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RetailNext is an in-store analytics company that has acquired mobile analytics firm Nearbuy Systems. Nearbuy raised $2.5 million in funding from Innovation Endeavors, Motorola Solutions Venture Capital, Metamorphic Ventures, and several other companies. The terms of the deal was undisclosed, but it was made in 100% equity with a value in the “high teens millions.” RetailNext CEO Alexei Agratchev believes that this is not an exit for Nearbuy stakeholders, but as a way to build a “really big business.”

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