Google Acquires Channel Intelligence For $125 Million
Channel Intelligence is a company that specializes in product e-commerce. The company has a data-driven service to drive product sales online. CI’s Where-To-Buy buttons make it easier for customers to purchase products that they like at their favorite retailers. The company was a featured Google Shopping launch partner. Today Google announced that they have acquired Channel Intelligence for $125 million entirely in cash.
CI is active in 31 countries and they work with 850 retailers including Best Buy and Target. CI worked with Google Shopping on their Return On Ad Spend (ROAS) with Product Listing Ads (PLAs).
CI can also integrate into Facebook seamlessly through widgets that companies can run alongside their Pages. “All CI services will continue to offer the excellent client service and great performance that our clients have come to expect over the years,” said CI on their homepage regarding the news of the acquisition.
CI launched in 1999 and they currently track around 15% of all U.S. online transactions. They drive around $2 billion in sales every year through referrals. ICG Group, one of Channel Intelligence’s largest investors, will realize around $60.5 million from the deal. A portion of the proceeds that ICG Group received will be held in escrow and is subject to potential identification claims. Aweida Capital Management, the other co-owner of Channel Intelligence, will receive the remainder of the proceeds according to TechCrunch.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry