Australia's Woolworths takes controlling stake in data analytics firm for $173 million

FILE PHOTO: People walk past a Woolworths supermarket following the easing of restrictions implemented to curb the spread of the coronavirus disease (COVID-19) in Sydney, Australia, June 16, 2020. Picture taken June 16, 2020. REUTERS/Loren Elliott

(Reuters) - Australia's biggest supermarket chain Woolworths Group sought to take control of data analytics firm Quantium by raising its stake in the company to 75% from 47%, signalling its increasing reliance on analytics to target and retain customers.

The company said on Tuesday it will increase its shareholding in Quantium for A$223 million ($173.25 million). The deal implies a valuation of A$796 million for Quantium, nearly 20-times the value when it took a 50% stake in 2013.