Financial terms of the agreement between the two Belgian companies were not disclosed, but we understand it concerns an all-stock deal.
This means NGDATA didn’t have to tap into the $2.5 million it raised from ING, Plug and Play Ventures and others back in October.
NGDATA, which delivers its ‘big data’-driven consumer intelligence solution Lily to (primarily) banks, retailers and publishers, says the acquisition of ENQIO will allow the company to rapidly expand its team of data scientists and business process knowledge across verticals:
“By providing complementary business knowledge and competence alongside its customer intelligence solution Lily, NGDATA will help organizations more effectively use their Big Data to impact their business by providing a 360-degree view of customers, supporting one to one customer interaction and improving business performance by reducing customer churn, upselling to existing customers, attracting new customers, optimizing price structures, etc.”
ENQIO customers include France Telecom, ING, KBC, Orange and Telenet, among others.
Image credit: Thinkstock