TROY, Mich., Aug. 13, 2020 /PRNewswire/ -- 365 Retail Markets announced today the acquisition of the smart-store technology company, Stockwell of Oakland, California.
Stockwell has gathered some of the best minds to build a retail platform that focuses on artificial intelligence, machine learning and computer vision. 365 intends to hire select team members and integrate the technology platform into its industry leading 365 Point of Sale systems.
"The future of retail is unattended, no doubt. By adding the excellent Stockwell tech platform to the 365-product ecosystem we are moving closer to our goal of a low-cost, frictionless retail experience. I am very impressed with the team that built the technology and we are putting our integration plans together so we can continue to dominate our current channel and look to other channels for future growth," said Joe Hessling, 365 Retail Markets, CEO.
Stockwell has confirmed the sale and expressed that their leadership is happy to see their technology and their team members carry on what they started and see what 365 Retail Markets will be able to accomplish in this space. The 1000+ Stockwell locations will continue to be serviced to the highest standards.
"Stockwell has leveraged computer vision and machine learning in a way that will have a dramatic impact on our industry. I believe that combined with the 365 platform, in time, we can scale to meet the global demand for frictionless, unattended retail," said Krishna Vedula, 365 Retail Markets, COO & CTO.
365 intends to spend the next few months upgrading the technology for existing customers and locations. The long-term plan is to use the patented technology as a base for several new products to be available to the market in 2021.
Please contact the 365 sales team at [email protected] with any inquiries.
About 365 Retail Markets
365 Retail Markets is the global leader of self-service technology and services for the Contract Foodservice industry and is owned by McCarthy Capital and Joe Hessling. 365 has won many awards for their innovation and growth, including being named to the Inc. 5000 list of the fastest-growing private companies in the U.S. several times. Through our combination of MicroMarket, vending, and dining technologies, we offer the best in class point-of-service platform for the workplace. 365 offers a consolidated approach to operators seeking a streamlined system that consumers love to use. 365 has been pioneering innovation since 2009 and continues to revolutionize the market with superior technology, strategic partnerships and ultimate flexibility in customization and branding. 365 is committed to capturing every single transaction, every single time, by delivering products that are secure, scalable and reliable. For more information about 365 Retail Markets, visit www.365retailmarkets.com. You can also follow 365 Retail Markets on Facebook, Twitter, YouTube, and LinkedIn.
Linde Hutson, Director, Global Marketing, Communications and Training, 365 Retail Markets
About McCarthy Capital
McCarthy Partners Management, LLC is a registered investment advisor that conducts business as McCarthy Capital. McCarthy Capital, headquartered in Omaha, NE, is focused exclusively on lower middle-market companies. For more than 30 years, the McCarthy organization has been partnering with founders, families and exceptional management teams to support the growth of their companies. More information about McCarthy Capital can be obtained at www.mccarthycapital.com.
Teri Mercer, McCarthy Capital Investor Relations
402-932-8600 [email protected]
SOURCE 365 Retail Markets, LLC