Google continues to build up its ecommerce know-how with the acquisition of Channel Intelligence for a reported $125 million, €92.39 million. Channel Intelligence provides technology for companies offering an online store, mostly big retailers such as Best Buy and Target in the US.The company is active in 31 countries and had already been working with Google Shopping, offering access to some Google product ad tools to its customers.
"We are pleased to announce that Channel Intelligence (CI) has entered into an agreement to be acquired by Google!," the company announced 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," it added.
Existing customers will continue to be served, but it's unclear whether it will be taking on new ones. Google has been working on creating a commerce platform, particularly with the new Google Shopping site in the US, which now lists only product ads.