20/04/2021 - 15:30

Woolworths takes control of Quantium

20/04/2021 - 15:30

Bookmark

Upgrade your subscription to use this feature.

Woolworths Group has invested a further $223 million in Sydney-based Quantium, taking its stake in the data firm to 75 per cent.

Woolworths takes control of Quantium
Quantium will now form part of Woolworths Group. Photo: Gabriel Oliveira

Woolworths Group has invested a further $223 million in Sydney-based Quantium, taking its stake in the data firm to 75 per cent.

Quantium will now form part of Woolworths Group under a new business unit called Q-Retail, which will bring together Woolworths and Quantium's collective data science and advanced analytics capabilities, the grocer said in an ASX announcement.

Meanwhile, Quantium will retain its senior leadership team – including co-founder and chief executive Adam Driussi –  and continue operating in sectors outside of retail.

Woolworths chief executive Brad Banducci will assume the role of Quantium chairman.

The transaction is expected to complete prior to June 30.

“The way we gather data, interpret it, and protect it, is becoming ever more important,” Mr Banducci said.

“Through this transaction, we aspire to bring together Quantium’s advanced analytics capability and Woolworths Group’s retail capabilities to unlock value across our entire retail ecosystem.

“By working together, we aim to transform the rapidly evolving retail sector, helping us better service our customers and support our team and supplier partners.”

Woolworths had first acquired a 50 per cent stake in Quantium in 2013 for about $20 million.

It had a 47 per cent stake in the business prior to today’s announcement.

Woolworths' new Q-Retail arm will be led by Sydney-based Amitabh Mall as managing director, who will also serve as the grocer's chief analytics offer.

Mr Mall joins Q-Retail from Boston Consulting Group, where he most recently led the company’s Asia-Pacific consumer and retail practice.

Shares in Woolworths Group closed down 1 per cent to trade at $41.63.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options