Movista Inc. of Bentonville, a software-as-a-service company for the retail industry, said Monday that it acquired Natural Insight, a retail technology provider that it called "its largest competitor."
Terms of the deal, backed by private equity firm Level Equity of New York, were not disclosed.
"In today's rapidly evolving retail environment, customer experience is critical. Physical stores have to look great, and products have to be where expected," Stan Zylowski, co-founder and CEO of Movista, said in a news release. "Stefan and his team 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. Together, we will lead the way to a more mobile, agile and collaborative retail environment that delivers tangible, measurable returns for our customers."
Zylowski referred to Natural Insight President and CEO Stefan Midford, who will become Movista's chief customer officer as part of the acquisition. Midford said joining with Movista will ensure "our customers around the world have the tools they need to stay ahead of a constantly evolving retail landscape."
In a news release, the companies said they will continue to support customers and maintain their respective platforms. As part of the deal, Movista will own a majority stake of Natural Insight's Capango brand, a mobile retail job matching platform. The companies said Capango will play a pivotal role as Movista seeks to address the rise of the "gig" economy and the need for on-demand labor.
Founded in 2010, Movista operates a mobile-first retail execution and workforce management platform called ONE by Movista, which encompass scheduling, tasking, project management, file sharing, training, ordering, returns, routing, time keeping, expenses, mileage and more.