The Sale of Springboard

by Andra Stanton

7 October 2022

The Sale of Springboard, A Footfall Counting and Ai Analytics Provider

Our longstanding clients at Springboard Research have recently completed the share sale of the UK headquartered Springboard Research Group to US trade buyer, MRI Software Limited. Founded in 2002, Springboard Research is a leading provider of footfall counting, retail data analytics, retail counting, and customer sentiment measurement, using independently developed AI hardware. Springboard Research serves more than 450 clients across 3,000-plus sites and is trusted by global media outlets, brands and governing bodies for the accuracy of its data, quality of reporting and retail insights. MRI is a leading provider of real estate software solutions and gives real estate companies the freedom to realise their vision of building thriving communities and stronger businesses.

Our Corporate Team advised both the management shareholders and private equity house YFM on the sale of the entire issued share capital of the Springboard Research group. The sale included Springboard Research’s US arm, Springboard Research Inc. Due to the nature of the business and MRI’s future plans, the transaction required expertise from our Commercial, Technology & Data Team as well as our Employment team.

Steve Booth, selling shareholder and CEO of Springboard Research, commented:

“Having supported us through the buy out process in 2014 and remained the Company’s go to lawyers since, EMW were the obvious choice to support the Springboard shareholders through the exit process. We certainly made the right choice. We found the EMW team to be responsive, collaborative and pragmatic, always achieving the right balance between representing our best interests and delivering on our wish for the transaction to proceed to close as quickly as possible. I couldn`t be more satisfied both with the outcome and the quality of the service that EMW provided.”

EMW commented: “Having acted for the management team in the YFM backed buy out in 2014 and having supported Springboard with all of its legal requirements since the buy out, we were delighted to be acting for all of the shareholders on exit. We congratulate all of the shareholders on highly a successful exit and wish the management team well as they explore new opportunities as part of MRI.”

Our collaborative relationship with the sell side corporate finance advisors, Grant Thornton, enabled a commercially focussed and joined-up transaction process.

The EMW team included Jemima Clarke, Paloma Menen and Amanda De Bruyn (Corporate), Hollie Tompkins and Hans Schumann (Commercial, Technology & Data) and Victoria Bevis (Employment).
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