Google has acquired ecommerce solutions firm Channel Intelligence (CI).
CI handles ecommerce solutions aimed at boosting the sales of product and services by making them easier to find on the web. The deal cost Google $125 million. CI expects the deal to close within the first quarter of 2013.
"We are pleased to announce that CI has entered into an agreement to be acquired by Google," CI wrote in a statement on its website. "For over ten years, we have focused on making it easy for consumers to find and buy products online and help our clients grow their business. We've worked with Google for years, and look forward to the great things we will be able to do together."
CI creates a product known as CI Boost. The product assists retailers with optimizing product visibility on Facebook, search engines, and shopping engines.
The firm was a Google Shopping launch partner prior to the purchase agreement. CI says they helped create a solution to help merchants optimize Return on Ad Spend (ROAS) for product listing ads.
CI has worked for firms like Phillips, HP, and Best Buy before being bought by Google. The company has reported that it helped drive $2 billion in sales annually through the use of its technology.
This article was originally published on V3.
June 12-14, 2013: Join industry experts at SES Toronto for a crash course in the latest strategies in Online Marketing and Advertising.
Save $300 when you register by Thursday, May 23.