Let us assume that first ב is the well known preposition: in, with.
Now, maybe we know noun עָקֵב, heel, footprint. Look at Gen 3:15.
Look at ptr N-t110.A.
Our word is, of course, the plural construct: עִקְבוֹת, (the) heels of.
The locution בעקבות + a noun xxx means: as a consequence of xxx, as the result of xxx.
Look at ptr S-t0469.B.5