Framingham surveillance-tech company to acquire Australian-owned drive-thru analytics firm
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DTiQ headquarters is located at 111 Speen St., Framingham
Framingham-based DTiQ, a company specializing in loss-prevention and business intelligence, announced in a press release Monday that it will acquire Summit Innovations, an international drive-thru technology firm. The deal is expected to close in early Q4.
Summit Innovations, which has a U.S. headquarters in Dallas, provides data and analytics to improve drive-thru timing and management.
According to its website, DTiQ serves the restaurant, retail and convenience store industries, providing video surveillance and analytics to reduce shrinkage and improve customer service.
"The blending of Summit Innovations and DTiQ's technologies will define the future of QSR (Quick Service Restaurant) and retail," said André Pravaz, Summit Innovations managing director, in a Monday press release.
In December, Nevada-based investment firm Digital Alpha Advisors LLC, led a $200 million acquisition of a majority stake in DTiQ.
In August, DTiQ expanded its management team, and CEO Mike Coffey stepped down and was replaced by former CFO Marc Litz.
WBJ Web Partners
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