Digital loyalty company Eagle Eye, which works with hospitality and food service groups including Mitchells and Butlers, Gondola Group, Tragus and Greggs, has announced its intention to float on the Alternative Investment Market (AIM).
It also announced the conditional acquisition of 2ergo Limited, which provides mobile platforms for smartphones.
Eagle Eye, which also works with retailers including Tesco, Pets at Home and Karen Millen, is looking to raise c£6m to acquire “a major competitor, providing access to new customers and significant IP, accelerate the growth of the company and help fund further investment in strategic technology”.
Dealings are expected to commence on AIM in April, and the group has appointed Panmure Gordon as its sole financial adviser,
Eagle Eye’s system works by providing a code either by SMS or email to diners which relates to the offer they are looking to redeem. The diner passes on that code to waiting staff at the point of payment which is automatically applied to their bill (the system integrates with a restaurant’s EPoS system) and giving the customer the discount they want.
The company said transactions conducted over the network have risen from an average of 200,000 a month in 2012 to one million during 2013. It has reported revenue growth at a CAGR of 70% per annum for the last three years, with revenue for the year ending 30 June 2013 totalling £705,000.