SKF to give big data edge to major Brazilian shopping group
Big data innovator SkyFii Ltd (ASX:SKF) has been selected as the Preferred Partner to provide data analytics to one of Brazil’s largest and arguably most premium shopping centre groups.
SKF builds, manages and monetises free public Wi-Fi networks that engage consumers with high quality content to help drive customer loyalty and collect data that can drive sales.
This service is in demand by retailers around the world and SKF is positioning itself to become a leading provider and manager of the technology.
The company’s expansion into Brazil comes after SKF secured a deal with the Australian telecommunications company Optus that will see its Skyfii tech supplied to Scentre Group’s Westfield centres, part of the $58BN global shopping mall group, and tap into Australia’s $273BN retail sector.
Brazil deal opens new market for SKF
Iguatemi is one of the largest full-service companies in Brazil’s shopping sector, handling every aspect of retail from planning and construction of malls and outlets to their day-to-day running.
SKF has installed its Wi-Fi driven data analytics at Iguatemi’s flagship Market Place centre in the major city of Sao Paulo under an initial contract term of five years.
Subject to the success of this venture, SKF will sign an agreement that will see its services rolled out across Iguatemi’s Brazilian interests, which include 17 shopping centres and three office towers.
Brazil’s retail sector is growing steadily and SKF’s CEO Wayne Arthur says the deal with Iguatemi positions the company to take full advantage.
“Brazil is a major target market for the company and Iguatemi represents the ideal partner for SKF,” he says.
“They have a major footprint in the shopping sector in Brazil and their brand is highly visible and recognisable for its high quality.”
Re-seller agreements bring NZ and Thailand to SKF
In another development, SKF has also signed re-seller agreements that will see its services marketed in New Zealand and across Thailand and South-East Asia.
SKF signed a Master Services Agreement with the New Zealand Property Group earlier this year to provide its retail outlets with data analytics, collaborating with a group called Select IT to secure the deal.
Select IT will now market SKF’s services across New Zealand for an initial one-year period.
SKF has also signed on Thailand-based GoPomelo to market its services across South-East Asia, a fast growing retail region.
Both deals could see SKF sign up new clients and will be renewed based on their success.
Capital raise brings $2.8M
SKF has received firm commitments from existing and new sophisticated shareholders to take part in a placement of new ordinary shares to raise AUD$2.8M.
The price of the new ordinary shares will be 22c each – a 10% premium to the last capital raising in November of 2014, and an 18.9% premium on the closing SKF share price on the ASX before the placement was announced.
The new funds will strengthen SKF’s balance sheet, provide it with new working capital and fund the delivery of its existing contracts in Australia and overseas.
The company is also planning to expand its sales, development and operations teams.