What you need to know:

• Woolworths to take majority stake in data and analytics business Quantium.
• Retailer plans to expand global analytics operation.
• Quantium management will continue to run the company, but new specialist retail unit also being created.

Woolworths will pay $223m to take a majority stake in data and analytics firm Quantium as it bids to build out a global retail analytics business.

The deal will take Woolworths stake from 47% to 75% with Quantium founders and employees retaining 25%.

While Quantium will still operate in sectors outside of retail, under the same management, Woolworths will create a new unit, Q-Retail, led by former Boston Consulting exec, Amitabh Mall, focused on delivering Woolworths Group’s Advanced Analytics Plan and commercialising retail products globally, per the ASX announcement.

“Advanced analytics is key to improving the experiences, ranges and services we provide to our customers and the support we provide to our teams and suppliers. The way we gather data, interpret it, and protect it, is becoming ever more important," said Woolworths CEO, Brad Banducci.

“We aspire to bring together Quantium’s advanced analytics capability and Woolworths Group’s retail capabilities to unlock value across our entire retail ecosystem. By working better together, we aim to transform the rapidly evolving retail sector."

The transaction is expected to complete before the end of June.

Quantium was founded in 2002 by CEO Adam Driussi and Executive Director, Greg Schneider. They were joined the following year by Tony Davis, now a Non Executive Director.