Israeli marketing technology provider Kenshoo is to acquire Signals Analytics, which delivers AI-powered analytics for consumer and market intelligence. Terms of the deal have not been disclosed.
Founded in 2009 by Gil Sadeh and Kobi Gershoni (pictured), Signals combines market research with artificial intelligence (AI) to extract context from uncorrelated external data sources. In September, the company was awarded a patent for the automatic extraction of information from unstructured data sources. The firm says this patent validates its approach to enterprise AI and analytics using external data at scale, while easing the deployment and data management processes that it says are 'typically so difficult for companies to navigate'.
According to Kenshoo, the acquisition positions it to solve the challenge brands face in the post-COVID-19 era - how to catch up with accelerated eCommerce adoption and be best positioned to understand, engage, and transact with consumers, regardless of channel. The firms add that their combined offering will help consumer brands make 'smarter, faster decisions' for forecasting, planning, go-to-market launches, marketing, and measurement.
Kenshoo CEO and co-founder Yoav Izhar-Prato comments: 'We looked for a powerful platform that best captured holistic consumer and market insights by connecting external data sets layered with cutting-edge, advanced analytics capabilities, and we found both in Signals Analytics. With a proven record in curating and augmenting external data and utilizing unique assets in AI/ML (machine learning) to infuse decisions with relevant, actionable insights for very prestigious brands, the team wowed us.'
Web sites: www.kenshoo.com and www.signals-analytics.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.