Channel Intelligence announced the news on its website this morning. The company was a launch partner with Google Shopping, and it claims that it tracks nearly 15 percent of U.S. online transactions and drives $2 billion in annual sales online.
Channel Intelligence’s products include “Where-to-Buy,” which brands can use to link any digital asset to retail locations, potentially increasing sales by letting consumers know when their favorite retailers offer a product. It has also developed technology for Google shopping to “maximize sales and Return on ad spend.”
Ultimately, buying Channel Intelligence would be a simple way for Google to make Google Shopping more useful to both customers and retailers. I’ve used the service occasionally, but most of the time I would rather deal with a retailer I like (Amazon or Newegg) rather than find the best deal in a sea of options. If Channel Intelligence can make Google Shopping more worthwhile, it’d be a big step up for Google.
The company’s customers include Target, Philips, HP, and Best Buy. Google has been strangely quiet about the deal, so we’ve dropped a line for more information. The deal is expected to close in the first quarter. Channel Intelligence is one of ICG Group’s consolidated companies, and ICG says it will receive around $60.5 million from the deal.