Google Inc (GOOGL) acquires Rangespan to add inventory management to Google Shopping
Google Inc (NASDAQ:GOOGL) has made an acquisition that will directly benefit Google Shopping. Google bought Rangespan, a London-based back office services company for online retailers. Rangespan uses data science to help them expand their product selection based on real-time sales dynamics.
This is Google’s third acquisition for a U.K.-based company. Google also acquired artificial intelligence company DeepMind and anti-malware company Spider.io. Rangespan will be shutting down and will be integrated into Google. Google did not disclose the terms of the deal.
Here is what the Rangespan homepage says:
We are very happy to announce that Rangespan is joining Google. We will continue to work on services for shoppers and retailers at Google, and we’re super excited about the opportunities to come.
As part of the change, we will wind down Rangespan’s services. We’ve already begun working individually with each of our retailers and suppliers on this process.
Prior to the acquisition, Rangespan raised $5 million in funding from Octopus Ventures.