Self-checkout and autonomous retail combined as Standard AI set to acquire Skip
Autonomous retail firm Standard AI has inked a definitive agreement to acquire self-checkout solutions provider, Skip.
Terms of the deal have not been disclosed.
Standard AI says that it will become the only company to connect self-checkout with AI powered autonomous checkout into one integrated experience.
It will integrate Skip’s cloud-based point of sale (PoS) with the back office ecosystem to streamline operations and give greater control over price, discounts, promotions, and more.
“Autonomous retail has seen exponential growth, and in the next five years we’ll see thousands of AI powered stores across the world,” says Jordan Fisher, CEO at Standard AI.
“Through this acquisition, we will create a unique offering that combines the self-checkout experience with autonomous retail for the first time ever to give retailers immediate relief from their labor challenges and a way to accelerate their path to an autonomous future.”
“Skip has differentiated itself in a crowded field of self-checkout solutions. In addition to being modular and easy to install, it delivers all the functionality required by retailers at a fraction of the cost of its competitors,” says Chase Thomason, Founder and CEO, Skip.
“By integrating with Standard AI, we are now taking our kiosks to the next level and working on solutions that will go beyond them as we create the future of autonomous checkout.”
Standard AI will continue to sell Skip standalone or together with its Vision OS^ offering (upon close of the acquisition).
"Standard AI's addition of Skip’s self-checkout solutions creates a well-rounded suite of capabilities to address varying levels of retailer needs—from traditional SCO to fully-autonomous stores and hybrid stores in-between," says Kevin Struthers, Associate Director of Digital at W. Capra.
"Additionally, Skip’s cloud-based PoS system and back office integrations will help streamline retailer implementations, especially for stores operating hybrid models that include a fixed register with self-checkout or autonomous capabilities."
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