Google has entered a definitive agreement to acquire Channel Intelligence, a consolidated company owned by the ICG Group, for $125 million in cash.
The deal is still subject to the usual formal closing conditions and is expected to be completed during the first quarter of this year.
Channel Intelligence specializes in product e-commerce, offering companies a number of data-driven services which are designed to help boost product sales online. These include where-to-buy, which companies can use to let consumers know where on the Internet they can buy a particular product they’re interested in. This is in addition to Facebook platform services, product search engines and shopping engines, the last two of which are aimed at online retailers specifically.
Chanel Intelligence’s existing customers include Target, Philips, HP and Best Buy, but more importantly it’s also a Google Shopping partner, developing a technology that can help maximize sales and Return On Ad Spend (ROAS) with Product Listing Ads (PLAs) – something which the company stresses has become an increasingly important channel for merchants.
Over on the Channel Intelligence website, the team has left the following message:
“For over ten years, we have focused on making it easy for consumers to find and buy products online and help our clients grow their business. We’ve worked with Google for years, and look forward to the great things we will be able to do together.
All CI services will continue to offer the excellent client service and great performance that our clients have come to expect over the years.”
Google is looking to strengthen its business in e-commerce, as heavy hitting rivals such as Amazon become the default search and purchasing tool for customers. Google wants more people using its Google Shopping search engine to find the best deals on products – an area which Channel Intelligence has a good deal of experience in.
Image Credit: Sean Gallup/Getty Images
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