SaaS technology firm Eagle Eye Solutions Group is set to buy French AI specialist Untie Nots for €15m (£13m).

Untie Nots offers a digital platform which allows retailers to personalise promotions, providing customised challenges to earn rewards with AI and deep machine learning facilitating hyper personalisation through its analytics capability.

Customers include Carrefour, E. Leclerc  and Auchan and other blue-chip retailers in Europe and the US, including Rite Aid.

Untie Nots’ end-to-end analytics will provide Eagle Eye with additional product and technology capabilities and an enlarged talent base, including the Untie Nots co-founders and its current 30 tech-oriented employees.

Under the terms of the deal €9.1m (£8m) will be payable in cash and €5.9m (£5m) will be in new Eagle Eye shares. The eventual figure could rise depending on hitting certain performance-related targets

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Tim Mason, Eagle Eye’s CEO, said: “The acquisition of Untie Nots will provide us with accelerated entry into the French digital promotions market, bring some of Europe’s largest grocers into the group and add to our growing roster of US clients, providing a wealth of cross-sale opportunities.

“At a time when retailers are accelerating their digital promotions activities to retain and grow their customer bases, we believe Untie Nots’ gamification technology will resonate across our customer base and pipeline.

“Untie Nots’ customer list and strong financial metrics speak to the quality of the business, offering and people behind it, and we are confident that together we will be able to unlock a considerable additional growth opportunity.”

Zyed Jamoussi and Cédric Chéreau, Untie Nots’ group managing directors, said: “By joining forces with the Eagle Eye family, we will be capable of bringing a compelling cloud-based SaaS software suite to the retail industry loyalty and promotion space.

“From one-to-one targeting to real time transactions and gamified customer experience, we will provide the retail industry with the end-to-end solution suite to take their promotion and loyalty to the next stage.

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“We are very excited about joining Eagle Eye since it will allow us to cover the retail market from Asia Pacific across Europe, the UK to North America.”