• Clipperton acted as sole financial advisor to In The Memory, a decision-making platform solution specialized in data analysis and business intelligence tools for retail, on its sale to SES-imagotag, the world’s leader in smart digital labels and retail IoT solutions.
  • With this new acquisition, SES-imagotag continues to build its data division, which also includes Captana, a company specializing in real-time shelf analysis using image analysis and artificial intelligence, as well as several solutions within the VUSION platform.
  • This deal further illustrates Clipperton’s expertise in advising Future of Retail enablers with 13 deals closed over the past 24 months that include Artefact, Ekimetrics, Qopius, Datawords Group, and more.

Our client

  • Founded in 2018 by Maxime Brunet, Alexis Mau and Audrey Hardy, an experienced team of data science specialists from the retail and FMCG sector, In The Memory has developed a turnkey software platform enabling retailers and consumer goods companies to optimize their marketing mix and build the most-suited assortment, improve merchandising, pricing and promotional choices across physical and online sales channels.
  • The solutions provided by In The Memory bring together strong subject matter expertise and cutting-edge technology for processing and analyzing large quantities of data originating from various and siloed sources. This double expertise empowers In The Memory’s platform with unique decision-making tools, both for retailers and brand managers.
  • In The Memory partners with several leading retailers in France and abroad as well as a broad range of Tier-1 consumer brands that include Auchan, Carrefour, Pernod-Ricard and Nestlé amongst many others.

Deal Rationale

  • SES-imagotag is a fast-growing retailtech company, listed on the Euronext Paris stock exchange, with revenues of more than €600 million in 2022. The company is the world leader in smart digital labels and retail IoT solutions for physical retail, serving over 350 large retailers around the world in Europe, Asia, and America.
  • With this new acquisition, SES-imagotag continues to build its data division, which also includes Captana, a company specializing in real-time shelf analytics using image analysis and artificial intelligence, as well as several solutions within the VUSION platform.
  • Alexis Mau, CEO of In The Memory, commented: “We are convinced of the advantages of this merger with SES-imagotag. Four years after the founding of In The Memory, this partnership comes from a shared vision of the digital transformation of retail and will enable us to accelerate our international growth.”
  • Thierry Gadou, Chairman and CEO of SES-imagotag, added: “I am delighted by the prospect of welcoming In The Memory’s staff and their talented founders, Audrey, Alexis, and Maxime. Memory is a gem among French companies with significant potential for international development. The expertise provided by Memory will be essential to us in improving our IoT and Data solutions, to ensure that they are the most relevant to decision-making needs.”

Clipperton’s future of retail expertise 

  • This transaction confirms the compelling expertise of Clipperton in the broad Future of Retail space.
  • Clipperton has advised several players digitizing retail along the value chain, may it be software players or tech-driven service providers.
  • Clipperton has proven its capability to support retail enablers on a wide spectrum of capitalistic challenges that include Growth Financing, strategic M&A and PE Growth transactions on both sell- and buy-sides.

Deal Team

About Clipperton

Clipperton is a leading investment bank dedicated to technology and growth companies. We provide strategic and financial advisory to entrepreneurs, corporates, and top-tier investors in Europe willing to execute transactions such as strategic M&A, private equity transactions, and private placements. Founded in 2003 and with offices in Paris, Berlin, Munich, London, New York, and Beijing, Clipperton has completed over 350 M&A and private placement transactions with fast-growing technology start-ups, blue-chip corporates, and renowned financial investors.