Movista Inc., the Bentonville-based provider of a mobile retail and workforce management app, has acquired its largest competitor, Natural Insight.
The companies didn't disclose the terms of the deal, which was backed by New York private-equity firm Level Equity.
Natural Insight, based in Sterling, Va., provides a cloud-based retail execution and workforce management app for consumer brands, retailers, and merchandising and marketing agencies. Its founder and chief executive officer, Stefan Midford, will become Movista's chief customer officer, according to a news release.
Stan Zylowski, Movista's CEO and co-founder, said in the release that Midford and the staff at Natural Insight "share our passion for value delivery and customer-focused innovation. Our technologies ensure the shopper finds what they want, when they want, where they want."
Midford said in the release that the merger "will ensure our customers around the world have the tools they need to stay ahead of a constantly evolving retail landscape. I'm excited for what the future holds and tackling retail's biggest challenges together."
Aside from Midford's role change, employees at both firms will remain in place. The companies will continue to support their customers and maintain their respective platforms, the release stated.
In a blog post on Movista's website, Zylowski and Midford said that over the next year, "we will explore areas of opportunity to deliver more value, and certainly we will look for ways to drive operational efficiency." They added that Movista is currently seeking a chief financial officer, and expects to fill that position by the end of the year.
As part of the deal, Movista will gain a majority stake of Natural Insight's brand Capango. The retail job-matching smartphone app connects job seekers with in-store, hourly jobs using online profiles instead of resumes.
Movista was founded in 2010 by Zylowski and April Seggebruch, the firm's chief operating officer. Its user-friendly app enables a wide range of functions including scheduling, project management, file sharing, training, ordering and time keeping. The company counts among its clients Bentonville-based Walmart Inc., the world's largest retailer, and a number of Walmart suppliers.
Natural Insight's app helps customers assign and manage work and verify completion and compliance, as well as collect and report on field data. The company founded in 2009 also has offices in Canada and the U.K.
Business on 10/23/2019