Fintech, a Tampa, Florida-based data, analytics and invoice processing platform for wholesalers, has acquired Armadillo Insight, a craft beer data and insights firm that specializes in chain retail placements.
Financial details about the deal were not available.
“Armadillo Insight presents an exciting opportunity for Fintech to fortify and expand its services to the supplier market,” Fintech CEO Tad Phelps said in a press release. “Armadillo’s impressive ability to combine various data sets and derive mission-critical information combines perfectly with Fintech’s mission to offer technologies that drive operational efficiency and better align all businesses operating in the alcohol industry.”
The deal was completed in the first quarter of the year and was the second in the last 12 months for Fintech, which acquired Lilypad, a sales platform, in April 2019. With the Lilypad acquisition, Fintech added data insights for sales teams to its capabilities.
Fintech, short for Financial Information Technologies,, helps its 4,000 wholesaler clients manage relationships with 150,000 retailers nationwide, according to a press release. Armadillo specializes in creating action plans for clients based on data, according to its website.
Burlington, Washington-based Armadillo Insight was founded in 2012 by industry veteran Douglas Mills, who retired in January. Armadillo combines scan data and depletions (sales-to-retailers) for its craft brewery clients, which have included Boulevard Brewing, Fremont Brewing, Great Lakes Brewing, and SweetWater Brewing, according to the company’s website.
Armadillo’s employees will join Fintech and “all employees will continue their normal day-to-day operations as the partnership develops further,” according to the release.