Cannabis compliance technology platform Fyllo will buy NineSixteen, an interactive retail display network that delivers high-impact digital experiences in physical retail locations.
Fyllo confirmed Tuesday the signing of a purchase agreement, saying that NineSixsteen will advance its widely-used retail offering, which was designed to create stronger connections with today’s most progressive consumers.
The combination of NineSixteen’s hardware and software platform has proven to increase in-store sales for some of the top retailers in cannabis, fashion and apparel. Now, through this acquisition, both cannabis retailers and brands will have access to NineSixteen’s revenue-boosting technology while at the same time providing an even more progressive brand experience to customers.
"Consumers today expect more and if they don’t get what they’re looking for, they’re gone,” Chad Bronstein, founder and CEO of Fyllo told Benzinga. “They’re used to interacting with today’s most engaging brands in everyday consumer categories well before they even enter a store. For brands to succeed, the key is a connection with customers, not just conversion, and that connection needs to be creative and consistent.”
“Ambitious cannabis brands – just like mainstream brands – realize this and are finding innovative ways to compete at scale,” Bronstein continued. “By adding NineSixteen’s innovative hardware+software to Fyllo’s existing solutions, we are ushering in a new era of what we call ‘connective commerce,’ which bridges the gap between online and offline experiences -- both for cannabis brands and beyond. While this acquisition significantly expands Fyllo’s reach and tech capabilities with new retail hardware, at a high level, it provides any brand the opportunity to activate the best user experiences and that is what leads to the strongest connections.”
NineSixteen’s subscription-based software platform provides retailers with interactive digital signage that helps consumers get more from their shopping experience – from endless product discovery and purchase to loyalty signup and promotions at the point of sale. The company will continue to serve its portfolio of leading retailers. Additionally, its software will be integrated into Fyllo’s Retail Solutions and has applications across several sectors including retail/apparel, gaming, and hospitality.
“NineSixteen’s vision is to reimagine how the digital and physical retail sectors coincide and to define what an effective in-store digital experience should be,” stated Sumant Yerramilly, CEO, NineSixteen. “The Fyllo team understood our mission from the moment we launched and have been champions of the company we have created. Now as part of Fyllo, we can innovate faster and stay ahead of the changes our new consumer economy brings.”
This is Fyllo’s second acquisition in 2022 and fourth since it was founded in 2019. In April the company announced the acquisition of Semasio, a pioneer in unified targeting for digital marketing, to enhance its data solutions.
Photo: Courtesy of Fyllo
