Retail Chain Sears Acquires Delver

Posted Mar 9, 2009

Delver is a “social search” engine company that was getting close to shutting down after raising $6 million in venture capital.  But out of nowhere retail chain Sears Holdings Corporation (NASDAQ:SHLD) deviced to acquire Delver.  The acquisition amount was undisclosed, but it is safe to assume that the VCs probably did not get a lot of their money back.

As part of the acquisition agreement, Delver co-founder and CEO Liad Agmon will move to the U.S. and become a VP at Sears.  Other Delver employees will remain at the offices in Israel and continue to work from there.  Delver’s Israel office will become a Sears development center.  Delver will continue to develop their social search engine.

What Sears actually will do with a social search engine, I can’t even imagine.

[via Globes Online]