Google acquires Irish startup Pointy for £122m
Google has acquired Dublin based retail technology start-up Pointy in a deal worth €147 million (£122.53 million).
Pointy, which has been working with Google since 2018, sells physical retailers a small blue box which when attached to their point-of-sale system uploads items to an ecommerce platform automatically.
Any time a retailer scanned an items barcode, Pointy would upload that item online automatically and then keep track of the instore stock without the retailer ever having to input data.
It uses algorithms to accurately predict stock levels based on purchasing patterns, rather than using actual inventory data.
When a user is searching for an item with Google, its partnership and now ownership allows shoppers to access stock levels via the “See What’s In Store” button in Google Maps.
Pointy now also gives retailers insights into what is selling well and what isn’t, enabling retailers to make more informed decisions about their stock.
“We look forward to building even better services in the future, with the backing of Google’s resources and reach,” Pointy said.