Appriss Acquires Verisk’s Retail Loss Prevention Solutions
Adding product lines and client bases increases Appriss’ retail performance improvement leadership.
Appriss, a leading provider of data analytics solutions in safety, health, and retail, today announced the acquisition of the retail loss prevention solutions from Verisk (Nasdaq:VRSK), a leading data analytics company serving the insurance industry, energy and specialized markets, and financial services. Verisk’s retail loss prevention portfolio has a broad and global client base of more than 70 retailers, many new to the Appriss family. This acquisition will be integrated into Appriss’ retail business unit, Appriss Retail.
Verisk’s retail loss prevention solutions include Aspect EliteLP™, APIS (Aspect Protection Information System), and (n)act™. Together, they bring to Appriss Retail a well-known product set and an experienced team of retail professionals, highly skilled in exception reporting and incident management solutions as well as retail operations and total loss analytics. This addition to the current Appriss and LP Software offerings further enhances Appriss Retail’s position as the premier retail analytics provider in the market.
- Appriss is committed to growing organically and via acquisition, recently surpassing 25 consecutive years of growth.
- Appriss celebrates an innovative culture, investing in its growth by tripling R&D spend in the past three years.
- Appriss Retail’s Software-as-a-Service (SaaS) solutions target the retail Global 1000 and drive action throughout the organization, including operations, finance, marketing, and loss prevention.
- Appriss Retail’s comprehensive platform for performance improvement yields measurable results with significant ROI among retail store, ecommerce, and inventory functions.
“The inclusion of Verisk’s retail clients now allows Appriss Retail to serve more than 300 of the largest, most advanced retailers in the world,” said Krishnan Sastry, chief operating officer of Appriss. “What we gain by serving such a large client-base is collective intelligence. This creates the combined knowledge that we are able to leverage through our platform and our world class data science team to deliver advanced analytics and predictive models that drive measurable performance improvements across many functions in each specific retailer.”
“Joining the Appriss Retail organization is an incredible opportunity for us to leverage our more than 20 years of experience in providing leading retail solutions with a team that has led the way in using advanced analytics to protect the profits of retailers worldwide,” said Cheryl Blake, division president of Verisk Financial | Retail Solutions. “Our clients will benefit from the laser focus on the retail space while still enjoying the outstanding support that has been the hallmark of our team.”
District Capital Partners acted as the buyside advisor to Appriss.
Appriss provides proprietary data and analytics solutions to effectively and efficiently address safety, fraud, risk, and compliance issues for government and commercial enterprises worldwide. Their customers are leading commercial enterprises, information service providers, and government agencies with focus in retail, healthcare, and public safety. For more information about Appriss, visit www.appriss.com
About Appriss Retail
Appriss Retail, a division of Appriss, Inc., provides artificial intelligence–based solutions to help retailers protect margin, unlock sales, and cut shrink. With more than 20 years of retail data science expertise, the company’s Software-as-a-Service (SaaS) platform generates advanced analytical insights and real-time decisions that drive action throughout the organization, including operations, finance, marketing, and loss prevention. Its performance-improvement solutions yield measurable results with significant return on investment among retail store, e-commerce, and inventory functions. Appriss Retail serves a global base of leading specialty, apparel, department store, hard goods, big box, grocery, pharmacy, and hospitality businesses in more than 150,000 locations (brick and mortar and online) in 45 countries across six continents. For more information about Appriss Retail, visit apprissretail.com
Verisk (Nasdaq:VRSK) is a leading data analytics provider serving customers in insurance, energy and specialized markets, and financial services. Using advanced technologies to collect and analyze billions of records, Verisk draws on unique data assets and deep domain expertise to provide first-to-market innovations that are integrated into customer workflows. Verisk offers predictive analytics and decision support solutions to customers in rating, underwriting, claims, catastrophe and weather risk, global risk analytics, natural resources intelligence, economic forecasting, and many other fields. Around the world, Verisk helps customers protect people, property, and financial assets.
Headquartered in Jersey City, N.J., Verisk operates in 30 countries and is a member of Standard & Poor’s S&P 500® Index. In 2018, Forbes magazine named Verisk to its World’s Best Employers list. For more information, please visit www.verisk.com