Retail personalization specialist Kibo is to acquire software provider Monetate for an undisclosed sum.
Based in New York and with offices in Europe, Monetate operates a big data insights and personalization platform allowing marketers to perform A/B and multivariate testing, while offering web site and mobile personalization capabilities. The firm's Intelligent Recommendations incorporates real-time customer data to deliver tailored product recommendations across all channels; while its Personalization Exchange allows brands to create relevant and individual customer experiences.
Kibo says the acquisition will expand its own personalization capabilities, while complementing its Certona omnichannel personalization solution and extending the reach of its cloud commerce platform. The latter will enable retailers and brands to curate, test, and optimize customer experiences online, in-store, through mobile apps and through artificial intelligence assistants.
Kibo CEO David Post says his firm will invest 'heavily' in personalization, and Monetate will add segmentation, testing, measurement and optimization to its offer. Stephen Collins (pictured), CEO of Monetate, adds: 'The opportunity to become part of a larger commerce platform with complementary products is exciting for both our clients and employees'.
Web sites: www.kibocommerce.com and www.monetate.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.