TAMPA, Florida, April 28, 2020 /PRNewswire-HISPANIC PR WIRE/ — Financial Information Technologies, LLC (“Fintech”), the leading business solutions provider for the beverage alcohol industry, today announced that it has acquired Armadillo Insight, LLC, a company that turns complex craft beer data into sales and marketing intelligence that drives product placement across chain retailers. This acquisition furthers Fintech’s mission to deliver specialized technology that maximizes efficiency and improves communication across the three tiers of the alcohol industry.
With decades of experience as an electronic payment provider, Fintech solves the unique challenges of beverage alcohol management for 150,000 retailers and 4,000 distributors across the country. Fintech’s platform capabilities have expanded significantly since the company’s inception, evolving to provide business process automation and data-driven services for anyone who buys or sells alcohol. Adding Armadillo Insight to its portfolio of products brings actionable intelligence that enables sales growth for breweries. By integrating Armadillo Insight with the previously acquired Lilypad Solutions, Fintech will empower its rapidly growing base of nearly 500 supplier clients with an intelligent CRM solution.
“Armadillo Insight presents an exciting opportunity for Fintech to fortify and expand its services to the supplier market. 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,” said Tad Phelps, Chief Executive Officer of Fintech. “We look forward to working with the Armadillo team, and we’re eager to expand on the strategic advancement that this acquisition affords our company.”
Since its founding in 2012, Armadillo Insight has served suppliers with task-specific, industry-relevant data. By combining depletion and competitive scan data, craft beer suppliers are able to improve productivity and increase their understanding of complex brand and package intelligence. Today, Armadillo Insight works with the industry’s top brands to provide an innovative data platform that drives sales growth.
“There is tremendous synergy between Fintech’s operational solutions and Armadillo Insight’s data solutions, which made it an easy decision to join forces,” stated Doug Mills, founder of Armadillo Insight. “We are proud of the developments that we have made since 2012, and we are honored to continue serving the industry’s top craft brands with Fintech’s technology and data science resources helping us innovate faster.”
This acquisition is the second within 12 months for Fintech and was completed in the first quarter of 2020. The Armadillo Insight team will integrate with Fintech, and all employees will continue their normal day-to-day operations as the partnership develops further.
About Fintech
Fintech is the leading business solutions provider for the beverage alcohol industry, empowering alcohol suppliers, distributors, and retailers with smart solutions that simplify beverage alcohol management. From product ordering and invoice payments, to sales strategy, business intelligence, and industry insights, Fintech continues to lead the development of technologies that increase margins and maximize operating efficiencies for anyone who sells alcohol. With decades of industry experience and unwavering dependability, Fintech connects over 600,000 business relationships nationwide. To learn more, visit www.fintech.com.
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SOURCE Fintech
