The Retail Equation Acquired By Appriss

Irvine-based The Retail Equation, a venture-backed startup developing tools used for retail analytics and predictive modeling, has been acquired by Appriss, a provider of data, risk, and analytics software Financial terms of the buy were not disclosed. The Retail Equation was owned by Norwest Venture Partners. According to Appriss, Norwest will continue to support the company by investing the proceeds of the sale into the new, combined entity. The Retail Equation had developed software used for real-time return authorization, detection of suspicious employee and consumer activity, and identification of targeted incentives that keep consumers shopping after making a purchase or valid return. The company had been led by Mark Hammond.