Cloud commerce provider Kibo said today that it inked a deal to acquire testing and optimization provider Monetate. Kibo said the acquisition will expand its “personalization capabilities” and compliment its Certona solution while extending the reach of its “end-to-end” cloud commerce platform.
Terms of the deal were not disclosed.
Kibo said the combined solution will provide consumers with “a robust, personalized omnichannel commerce experience.”
Monetate was founded in 2008 and has offices in the U.S. and Europe. The platform is used by brands such as Patagonia, The North Face, QVC, Newegg and Timberland, among others.
David Post, chief executive officer of Kibo, said providing a personalized customer journey “is vital to brands and retailers in today’s competitive marketplace.”
“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,” the ceo said. “With Monetate, we recognized the opportunity to acquire a market leader in discovery, segmentation, testing, measurement and optimization.”
Post said by combing the Certona and Monetate solutions, the company created a personalization engine that “will enable retailers to make the most of customer intent-driven data, deliver exceptional content experiences and measure incrementality to optimize customer lifetime value at scale.”
Stephen Collins, ceo of Monetate, said the company 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.”
The impetus behind the acquisition is a retail market that has repositioned itself around meeting the demands of consumers. “As the market becomes more dynamic, the future of commerce is centered around the customer, and the key to creating a competitive advantage relies on personalization,” Kibo said in a statement about the deal. “The most successful retailers and brands understand their customers and realize they must go beyond disjointed point solutions and fully commit to a holistic, personalized customer journey.”
With Monetate, Kibo can now offer A/B and multivariate testing as well as content personalization, and “audience-building and targeting with an intuitive, self-serve user interface designed for merchandisers and marketers.”