Google has bought ecommerce marketing firm Channel Intelligence for $125m, the the internet giant looks to boost its online retail presence.
The move follows Google’s acquisition of online coupon firm Incentive Targeting and retail locker startup BufferBox.
Channel Intelligence is part of the ICG Group, and offers a variety of marketing and shopping services to other companies and online retailers, including Staples and Best Buy.
Previously, Channel Intelligence partnered with Google Shopping.
“Building upon the perseverance and strong foundation laid by CI’s founder Rob Wight, I am extremely proud of the work we accomplished at CI,” said Doug Alexander, CEO of CI and President of ICG. “With the talent and hard work of the entire CI team, we successfully navigated a very complex marketplace, ending a record year that culminated in this very exciting acquisition.”
“The sale of CI to Google is a testament to the quality of its technology and its strong team led by ICG President, Doug Alexander, who positioned the company to succeed in the rapidly growing e-marketing industry,” said Walter Buckley, CEO of ICG. “As drivers and architects of CI’s growth and success, we are very pleased with this outcome.”
“I am thrilled to see the recognition of value for what this company has accomplished,” said Rob Wight, Founder and Chairman of CI. “Our vision for CI started with the desire to simplify the online shopping experience. Under the leadership of Doug and ICG, CI greatly enhanced its value proposition to its customers and partners. I am very proud to see our vision executed to this great outcome.”
www.channelintelligence.com
