Vision Group, a leading multinational conglomerate of technology companies specializing in retail, announced the acquisition of SMSB Consulting Group, a U.S.-based company with expertise in Visual Category Management.
Vision Group has integrated several companies that leverage cutting-edge technologies to automate retail audits, connect dispersed retail assets and enable frictionless retail, said the company in a press release.
SMSB Consulting Group is a privately-owned company based in Hauppauge, NY, managed by its founding partner, Al Lozito, for over 35 years. SMSB has an excellent track record of serving 100+ CPG and retail customers with the highest level of customer service.
“I have been running SMSB since 1990. My primary goal has always been customer satisfaction and delivering a compelling value proposition for our clients. I’m particularly pleased with our employee retention rates as a majority of SMSB’s associates and leadership team has been with the company for over 20 years. As I approached retirement, I wanted to hand over my business to someone who would share the same goals and values as me. I feel fortunate to sell SMSB to Vision Group under the management of Karan Bakshi, who runs multiple innovative solution-based businesses in this area and has a proven track record of achieving superior results with a high level of customer focus,” said Alfred Lozito, founding partner of SMSB.
Headquartered in Chantilly, Virginia, Vision Group is a privately owned American multinational conglomerate holding company. Its companies are focused on digitizing brick and mortar retail, leveraging advanced artificial intelligence, augmented reality, and IoT technologies.
“SMSB acquisition adds an important strategic element to our current portfolio, as it reinforces our position as the world’s only technology provider covering digitization for all aspects of brick-and-mortar retail. SMSB was the missing piece of the puzzle to deliver on our promise of enabling the end-to-end transformation of traditional retail, explained Karan Bakshi, Vision Group President.
SMSB solutions assist both retailers and suppliers drive incremental sales by optimizing assortments and improving shopping experiences through improved retail execution.
“SMSB has been partnering with Vision Group over the past few years. It quickly became apparent that our companies shared very similar cultures and a strong focus on customer success. The ability to enhance our product offerings with AI and Image Recognition will bring new capabilities and game-changing solutions to the Consumer Goods industry. We understand it’s our job every day to make every aspect of our customer’s experience better. This union will help us achieve that goal, and we are genuinely excited about this acquisition. We are expecting great things to come”, added Jason DeRienzo, CEO of SMSB.