Kibo, a Dallas-based provider of cloud commerce services, is acquiring Monetate, a testing, optimization, and personalization provider.
No financial details were released about the deal. Pennsylvania-based Monetate provides real-time, AI-powered e-commerce solutions for online retailers.
Kibo announced that the acquisition will expand its personalization capabilities, complement its Certona solution, and extend the reach of its end-to-end cloud commerce platform. The company’s software and services include eCommerce, order management, and mobile point-of-service for retailers, manufacturers, and brands.
According to the Internet Retailer Top 1000, Kibo’s Certona is the No. 1 personalization provider while Monetate is No. 2.
“Providing a personalized customer journey is vital to brands and retailers in today’s competitive marketplace,” Kibo CEO David Post said in a statement. “Consequently, we’re going to heavily invest in personalization as part of our commerce cloud to outpace our competitors in providing both innovation and a holistic suite of solutions.”
Post said the Monetate deal offers Kibo an opportunity to expand on a market leader in discovery, segmentation, testing, measurement, and optimization. By combining Certona with Monetate, Kibo will be able to create a leading personalization engine in the market, enabling retailers “to make the most of customer intent-driven data, deliver exceptional content experiences, and measure incrementality to optimize customer lifetime value at scale.”
In the future, creating a competitive advantage will rely on that personalization as the market becomes more dynamic.
The addition of Monetate to Kibo’s other cloud offerings means its retailers and brands will be better equipped to curate, test, and optimize customer experiences intelligently and consistently wherever they occur: online, in-store, through mobile apps, via AI assistants, etc.
“The opportunity to become part of a larger commerce platform with complementary products is exciting for both our clients and employees.”
Stephen Collins
Also, adding Monetate will allow Kibo to offer an intuitive, self-service user interface designed for merchandisers and marketers.
Monetate CEO Stephen Collins said the deal provides opportunities for the company and its clients.
“Monetate continues to be committed to providing our clients with capabilities to deliver the best experiences for their customers in every interaction over time. Our clients have leveraged our solution to deploy successful personalization strategies to drive growth and conversion,” Collins said in a statement. “The opportunity to become part of a larger commerce platform with complementary products is exciting for both our clients and employees.”
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