Fobi AI (TSX-V:FOBI, OTCQB:FOBIF) Inc said it has signed a three-year exclusive license with Barnet Technologies, enabling access to all point of sale (POS) and transactional data from Barnet POS systems.
According to Fobi, Barnet is one of the leading POS vendors in Western Canada for liquor and other regulated industries, with more than 50% market share in British Columbia (BC).
The agreement will enable Fobi and Barnet to provide liquor retailers with real-time shopping data, including product loyalty and transaction data.
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It will also enable end-to-end measurement and analysis enabling customer acquisition, customer segmentation, retail and brand marketing activation, and real-time marketing attribution, Fobi noted.
The company said the deal will generate revenue by way of selling quarterly and annual data licenses to various industry stakeholders through the Fobi Data Exchange (FDX).
Fobi CEO Rob Anson said the transaction has also enabled the company to successfully lock down the key BC and Alberta liquor retail marketplaces.
“This agreement signifies the confidence which Barnet Technologies not only has in our technical capabilities but our ability to execute together on monetizing the alcoholic beverage industry,” he said.
“We are now focused on replicating the same successful model across the other key Canadian provinces before the end of 2022.”
Barnet president Nick Ricci added that Barnet has worked with Fobi for some time now and has witnessed first-hand the robust functionality and value FDX provides to data aggregators.
“Add to this the fact (that) Fobi (has) key existing strategic alliance relationships with leading data aggregation companies such as NielsenIQ and it was a no-brainer for us to enter into a multi-year exclusive data agreement with Fobi,” Ricci said.
Fobi is a cutting-edge data intelligence company that helps its clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits.
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