ITAB Shop Concept: ITAB Group acquires Signatrix - strengthens market position in Retail AI technology
ITAB has acquired all shares of Signatrix GmbH, a technology and Retail AI startup. The Group made a strategic investment of a minority position of approximately 18 percent of the shares in Signatrix in May 2024, and ITAB has now acquired the remaining 82 percent of the shares 1. Closing takes effect immediately and the acquisition is expected to have only a marginal effect on ITAB's earnings per share during the current financial year.
ITAB and Signatrix have been strategic partners since 2022 and have together created frictionless security deterrents that help retailers reduce product loss, specifically in the checkout area in stores, and have also broaden out its use of the technology in multiple use cases across the in-store environment to improve customer experience, reduce operational and improve staff efficiency together with ITAB's OnRed platform. The technology is already helping retailers across thousands of stores in Europe.
ITAB sees artificial intelligence as an integral part of enabling its customers to utilize the vast amount of data generated within the in-store environment to create actionable insight that can influence both customer shopping missions and operational compliance.
"The acquisition of Signatrix will help ITAB Group to accelerate our advancements in the use of AI in the store environment. We are determined to help our customers design great in-store experiences to drive sales and conversion as well as delivering more efficient stores that reduces cost of operation. We know that technology plays a critical role in our solutions today, but we will see an even greater use of technology across consumer missions and operating models in the physical store of our customers in the future. With the aid of innovate AI algorithms, Signatrix' technology helps retailers in real-time to understand and keep track of what is happening in their stores. This technology enables us at ITAB to develop and offer truly unique and competitive advantages for our customers utilizing our OnRed enabled in-store technology solutions", says Andréas Elgaard, President & CEO of ITAB Group.
"When we launched Signatrix, the vision was simple: unlock real-time intelligence hidden in every retail aisle to create better experiences and improve profitability. Becoming a fully integrated part of ITAB's platform contributes to that vision - improving our reach and pairing our AI engine with ITAB's proven OnRed infrastructure. Together we will help retailers cut shrink, streamline operations and turn every customer visit into data-driven value with help of AI", says Philipp Müller, Founder & Co-CEO of Signatrix.
Jönköping, 26 May 2025
ITAB Shop Concept AB (publ)
1 The intention is that certain members of the Signatrix management team will have an option to purchase up to a total of 20 percent of the shares in Signatrix GmbH at a later date.
This information was submitted for publication at 3:20 p.m. CEST on 26 May 2025.
This is in all respects a translation of the Swedish original press release. In the event of any discrepancies between this translation and the Swedish original, the latter shall prevail.